Deed Restricted Affordable Housing definition

Deed Restricted Affordable Housing means real estate that is required to be used as affordable housing for a period of time pursuant to a restrictive covenant or similar enforceable, recorded instrument, with income targets that are no higher than 80% of AMI. The term shall include, but not be limited to, HUD multifamily housing and Low Income Housing Tax Credit projects authorized by applicable law.
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Deed Restricted Affordable Housing means a residential unit that has a regulatory agreement or other instrument recorded against the property which limits the sales price or rent of that unit for a minimum of thirty (30) years affordable to households earning less than one hundred twenty (120) percent of the area median income.
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Examples of Deed Restricted Affordable Housing in a sentence

  • HTMUA WATER(Modified) Basic Connection Fee per each Residential Unit or Domestic Consumer Unit (DCU)Current $2,256.00 Proposed $2,259.00(Modified) Deed Restricted Affordable Housing Units built by Public Housing or Non-Profit Organizations Current $1,128.00 Proposed $1,129.00(Modified) Restricted Low and Moderate Housing UnitsCurrent $1,128.00 Proposed $1,129.00 Residential Water Service Charges1.

  • The Administrative Fee shall be non- refundable, regardless of whether the sale of a Deed Restricted Affordable Housing Unit is completed.

  • The sales fee shall not apply where the seller of a Deed Restricted Affordable Housing Unit is the Ouray County, the Town of Ridgway or the City of Ouray.

  • In determining the impairment allowance for loans to corporate customers, management makes the following key assumptions:  historic annual loss rate of 1.5% a discount of between 60% and 80% to the originally appraised value if the property pledged is sold a delay of 12 months in obtaining proceeds from the foreclosure of collateral.

  • Administration of the 267 units that satisfy the City BMR Program requirements will adhere to the City of Cupertino Policy and Procedures Manual for Administering Deed Restricted Affordable Housing Units.

  • In conjunction with listing a Deed Restricted Affordable Housing Unit for sale, the owner of such shall remit to OCHA/designee an administrative fee in the amount of $550.00 (the “Administrative Fee”), unless otherwise specified in the Deed Restriction, to cover the administrative cost of OCHA/designee assisting with the sale of the Deed Restricted Affordable Housing Unit to a Qualified Resident or Purchaser.

  • Bedroom SizePayment Standard0 *Deed Restricted Affordable Housing: The Housing Authority will seek guidance from the U.S Department of Housing and Urban Development regarding whether an alternative payment standard can be established for Deed-Restricted Affordable Housing.

  • The Vibration Monitoring Program must be in accordance with the recommendations of the Geotechnical Report by Asset Geotechnical (Refer to Rprt No. 0894- A dated 23rd February 2006).

  • There are two fees involved in the listing and sale of a Deed Restricted Affordable Housing unit -- a Listing Fee, a Sales Fee, and an Agent Fee.

  • Administration of the 267 units that satisfy the City BMR Program requirements are subject to the City of Cupertino Policy and Procedures Manual for Administering Deed Restricted Affordable Housing Units (City BMR Administration Manual).

Related to Deed Restricted Affordable Housing

  • Affordable housing means, unless the context clearly

  • Affordable housing development means a development included in the Housing Element and Fair Share Plan, and includes, but is not limited to, an inclusionary development, a municipal construction project or a 100 percent affordable development.

  • Affordable Housing Unit means a rental unit in an affordable housing building that rents for an amount that is affordable to households at or below 60 percent of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for household size and number of bedrooms.

  • Affordable housing project means, for purposes of this part, title fourteen of article twenty seven of the environmental conservation law and section twenty-one of the tax law only, a project that is developed for residential use or mixed residential use that must include affordable residential rental units and/or affordable home ownership units.

  • Affordable Housing Units – means the Affordable Housing to be provided as part of the development in accordance with the application and/or any subsequent reserved matters approval.

  • Residential real estate means any real property located in this state, upon which is constructed or intended to be constructed a dwelling;

  • Property Management Agreement means that certain management agreement between the Company and the Property Manager with respect to the management of the Property.

  • Affordable Housing Cost means an amount satisfied by:

  • Multifamily housing means housing accommodations designed as a residence for more than 1 family.

  • Hotel Management Agreement means any hotel management agreement relating to the management and operation of the Real Property together with all supplements, amendments and modifications thereto.

  • Residential real property means real property improved by a one to four family dwelling used or occupied, or intended to be used or occupied, wholly or partly, as the home or residence of one or more persons, but shall not refer to (a) unimproved real property upon which such dwellings are to be constructed or (b) condominium units or cooperative apartments or (c) property on a homeowners’ association that is not owned in fee simple by the seller.

  • Cooperative Apartment A dwelling unit in a multi-dwelling building owned or leased by a Cooperative, which unit the Mortgagor has an exclusive right to occupy pursuant to the terms of a proprietary lease or occupancy agreement.

  • Affordable housing program(s means any mechanism in a municipal Fair Share Plan prepared or implemented to address a municipality’s fair share obligation.

  • Residential housing or "Residence" means a single-family, owner-occupied dwelling located within the State that qualifies for financing by the Authority within the meaning of the Act, the Rules and Regulations, the Code and related regulations.

  • Single-family housing means housing accommodations designed as a residence for not more than 1 family.

  • Non-Residential Property means all Assessor’s Parcels of Developed Property for which a building permit(s) was issued for a non-residential use.

  • Commercial real estate means real estate or an interest in real estate that is not any of the following:

  • Rental housing means development of a building or structure with four or more dwelling units all of which are intended for use as rented residential premises;

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Supportive housing means housing with no limit on length of stay, that is occupied by the target population, and that is linked to an onsite or offsite service that assists the supportive housing resident in retaining the housing, improving his or her health status, and maximizing his or her ability to live and, when possible, work in the community.

  • Financeable Ground Lease means, a ground lease reasonably satisfactory to the Administrative Agent on behalf of the Lenders, which must provide customary protections for a potential leasehold mortgagee (“Mortgagee”) such as (i) a remaining term, including any optional extension terms exercisable unilaterally by the tenant, of no less than 25 years, (ii) a provision that the ground lease will not be terminated until the Mortgagee has received notice of a default, has had a reasonable opportunity to cure and has failed to do so, (iii) provision for a new lease to the Mortgagee as tenant on the same terms if the ground lease is terminated for any reason, (iv) transferability of the tenant’s interest under the ground lease by the Mortgagee without any requirement for consent of the ground lessor unless based on delivery of customary assignment and assumption agreements from the transferor and transferee, (v) the ability of the tenant to mortgage tenant’s interest under the ground lease without any requirement for consent of the ground lessor and (vi) provisions that the tenant under the ground lease (or the leasehold mortgagee) has customary protections with respect to the application of insurance proceeds or condemnation awards attributable to the tenant’s interest under the ground lease and related improvements.

  • Redevelopment Agreement means an agreement between the

  • Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

  • Deed Restrictions means the deed restrictions to be recorded with respect to the Land, which deed restrictions shall be subject to the Director's approval and shall be commensurate with the nature and purpose of the Land as stated in the Recipient's application for grant funds under Revised Code Sections 164.20 through 164.27. The Deed Restrictions shall be perpetual and shall not be amended, released, extinguished or otherwise modified without the prior written approval of the Director, in the Director's sole discretion, who shall have full enforcement authority, as set forth more specifically in Section IX of this Agreement.

  • Property management means leasing or renting, or offering to lease or rent, real property of others for a fee, commission, compensation, or other valuable consideration pursuant to a property management employment contract.