Functionally Related and Subordinate definition

Functionally Related and Subordinate means and includes facilities for use by tenants; for example, laundry facilities, parking areas and recreational facilities, provided that the same are of a character and size commensurate with the character and size of the Project.

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Functionally Related and Subordinate means facilities for use exclusively by tenants, for example, swimming pools, other recreational facilities, parking areas and other facilities which are reasonably required for the Project, for example, heating and cooling equipment, trash disposal equipment and units for resident managers or maintenance personnel; provided that the same are of a character and size commensurate with the character and size of the Project and, as to size, does not exceed that necessary to service the requirements of the residents of the Project.

Functionally Related and Subordinate means and include facilities for use by tenants, for example, laundry facilities, parking areas, and recreational facilities, provided that the same is of a character and size commensurate with the character and size of the Project.

Examples of Functionally Related and Subordinate in a sentence

The Project will consist of proximate buildings or structures located on a single "tract" of land which have similarly constructed Dwelling Units financed pursuant to a "common plan" together with Functionally Related and Subordinate Facilities, which will be owned by the same "person" (as such terms are used in the Treasury Regulations).
Owner will own and cooperatively operate the Project as a low-income multifamily residential rental housing development property containing Dwelling Units and facilities Functionally Related and Subordinate to such Dwelling Units, in accordance with this Agreement, the Project Management Agreement, and other applicable Program Requirements.
Owner will own and operate the Project as a low-income multifamily residential rental housing development property containing Dwelling Units and facilities Functionally Related and Subordinate to such Dwelling Units, in accordance with this Agreement, the Project Management Agreement, and other applicable Project Requirements.

More Definitions of Functionally Related and Subordinate

Functionally Related and Subordinate means and include facilities (other than Units) for use by residents; for example, laundry facilities, parking areas, swimming pools and other recreational facilities and other facilities which are reasonably required for the Project (including heating and cooling equipment, trash disposal equipment and Units for resident managers or maintenance personnel); provided, that such facilities are of a character and size commensurate with the character and size of the Project.