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

  • Students who dutifully memorize granite as having pink K-feldspar have trouble recognizing that a similar rock with white K-feldspar is also granite.

  • Deed restricted affordable housing is nearly always also income-restricted, butincome-restricted housing or programs are not necessarily deed-restricted; for example, many downpayment assistance programs require that participants earn less than a certain amount, but do not incorporate a deed restriction.

  • Deed- restricted affordable housing would increase to 28 percent for the region and 24 percent in HRAs.Transportation costs remain fairly consistent as well, with a slight decrease in the region-wide average as the increased housing in TRAs drives vehicle ownership lower (23 percent) versus the proposed Plan (24 percent).

Related to Deed Restricted Affordable Housing

  • 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

  • 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 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;

  • Affordable Housing Cost means an amount satisfied by:

  • 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.

  • 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.

  • Property management system means the Contractor’s system or systems for managing and controlling Government property.

  • 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:

  • SWS wage assessment agreement means the document in the form required by the Department of Education, Employment and Workplace Relations that records the employee’s productive capacity and agreed wage rate

  • 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.

  • Redevelopment Agreement means an agreement between the

  • Multi-family housing means a building or structure that is designed to house two (2) or more different households in separate housing Units which have full kitchen facilities including oven/range, refrigerator, kitchen sink with hot and cold water supply and food storage facilities and at least one (1) full bathroom facility(s), one (1) full bedroom and one (1) living area (including a combination thereof such as studio arrangements).

  • Residential property means improved property that:-