Deeply Affordable Housing definition

Deeply Affordable Housing means financing for any (1) affordable housing units restricted to households earning below 30% of area median income3 for a period not less than 10 years, prorated based on the percentage that such units make up of the total number of housing units; or (2) Affordable Housing in a “high opportunity area” as defined by the Federal Housing Finance Agency in 12 C.F.R. § 1282.1(b).
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Deeply Affordable Housing means (1) with respect to rental housing, housing that is affordable to households earning up to thirty percent (30%) of the area median income, and (2) with respect to owner-occupied housing, housing that is affordable to households earning up to eighty percent (80%) of the area median income.
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Related to Deeply 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 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 program(s) means any mechanism in a municipal Fair Share Plan prepared or implemented to address a municipality’s fair share obligation.

  • Affordable Housing Unit means any residential building or dwelling unit that has received federal, state,