For Sale Affordable Unit definition

For Sale Affordable Unit means an Affordable Unit that shall be sold to a Qualified Purchaser.
For Sale Affordable Unit means an Affordable Housing Unit that shall be sold to a Qualified Purchaser.

Examples of For Sale Affordable Unit in a sentence

  • A deed for a For Sale Affordable Unit shall not be combined with any other property, including parking spaces or storage facilities, unless the price of such property is included in the Maximum Sales Price (for initial Sales) or Maximum Resale Price (for subsequent Sales).

  • For any Qualified Purchaser, the Annual Household Income shall be determined as of the date of the sales contract for such For Sale Affordable Unit.

  • Prior to obtaining any Mortgage or refinancing thereof, the Affordable Unit Owner shall request from the Agency the then-current Maximum Resale Price for its For Sale Affordable Unit.

  • During the Affordability Period, the Affordable Unit Owner shall submit to the Agency annually on the anniversary of the closing date for a For Sale Affordable Unit, a Certification of Residency.

  • The following procedures shall apply to (i) Developer with respect to the initial Sale of a For Sale Affordable Unit, and (ii) an Affordable Unit Owner of a For Sale Affordable Unit desiring to sell his or her For Sale Affordable Unit.

  • The Agency shall have the right to purchase a For Sale Affordable Unit in the event a notice of default or notice of intent to foreclose for a Mortgage in first position was recorded in the Land Records.

  • In no event shall a Transferee who is not a Qualified Purchaser reside in a For Sale Affordable Unit for longer than ninety (90) days.

  • An Affordable Unit Owner shall not lease, or permit a sublease of, a For Sale Affordable Unit without the Agency’s prior written approval, in the Agency’s sole and absolute discretion.

  • To the extent settlement for a For Sale Affordable Unit will not occur within 90 days after the sales contract, the Annual Household Income of the prospective Qualified Purchaser shall be determined again within 90 days prior to settlement.

  • In no event shall the aggregate amount of all Mortgages placed against a For Sale Affordable Unit exceed an amount equal to one hundred five percent (105%) of the Maximum Resale Price for such unit.

Related to For Sale Affordable Unit

  • Affordable Unit means a housing unit proposed or created pursuant to the Act and approved for crediting by the Court and/or funded through an affordable housing trust fund.

  • Affordable Units means units that have rents that do not

  • 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 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 means, unless the context clearly

  • 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.

  • Manufactured dwelling park means a place where four or more manufactured dwellings

  • High Cost Home Mortgage Loan as defined in the Massachusetts Predatory Home Loan Practices Act effective November 7, 2004 or (iv) a "High-Cost Home Loan" as defined by the Indiana High Cost Home Loan Law effective January 1, 2005.

  • Historic property means any prehistoric or historic site, district, building, object, or other real or personal property of historical, architectural, or archaeological value, and folklife resources. These properties or resources may include, but are not limited to, monuments, memorials, Indian habitations, ceremonial sites, abandoned settlements, sunken or abandoned ships, engineering works, treasure trove, artifacts, or other objects with intrinsic historical or archaeological value, or any part thereof, relating to the history, government, and culture of Florida.

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

  • Manufactured home community means the same as land-leased community defined in sections 335.30A and 414.28A.

  • All-terrain type II vehicle means the same as that term is defined in Section 41-22-2.

  • Qualified agricultural property means that term as defined in section 1211 of the revised school code, MCL 380.1211.

  • Affordable means, a sales price or rent level that is within the means of a low- or moderate- income household as defined within N.J.A.C. 5:93-7.4, and, in the case of an ownership unit, that the sales price for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.6, as may be amended and supplemented, and, in the case of a rental unit, that the rent for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.12, as may be amended and supplemented.

  • Retail tobacco store means a retail store utilized primarily for the sale of tobacco products and accessories and in which the sale of other products is merely incidental.

  • Plug-in hybrid electric vehicle means a motor vehicle that:

  • Cluster development means a contiguous cluster or

  • Existing Manufactured Home Park or Manufactured Home Subdivision means a manufactured home park or subdivision for which the construction of facilities for servicing the lots on which the manufactured homes are to be affixed (including, at a minimum, the installation of utilities, the construction of streets, and either final site grading or the pouring of concrete pads) was completed before the initial effective date of the floodplain management regulations adopted by the community.

  • All-terrain type I vehicle means the same as that term is defined in Section 41-22-2.

  • Affordable Housing Cost means an amount satisfied by:

  • Park model recreational vehicle means a unit that:

  • Manufactured home park means any tract of land upon which three or more manufactured or mobile homes used for habitation are parked, either free of charge or for revenue purposes, and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as a part of the facilities of the park. "Manufactured home park" does not include any of the following:

  • Neighborhood electric vehicle means a self-propelled

  • All-terrain vehicle means either of the following:

  • Plug-in Hybrid Electric Vehicle (PHEV) means a vehicle that is similar to a Hybrid but is equipped with a larger, more advanced battery that allows the vehicle to be plugged in and recharged in addition to refueling with gasoline. This larger battery allows the car to be driven on a combination of electric and gasoline fuels.