HOME Units definition

HOME Units as described in the Recitals hereto, the 22 Affordable Units in the project that shall be rented in accordance with 24 CFR 92.252, which shall include the 5 Affordable Units to be reserved for “very low-income families” pursuant to the requirements of 24 CFR 92.252(b), all as further set forth in the Deed of Trust, a HOME restrictive covenant or regulatory agreement recorded against the Land. All HOME Units shall be floating units within the meaning of 24 CFR 92.252(j), meaning the designated HOME Units may be changed to maintain conformity with the requirements of 24 CFR 92.252 during the period of affordability so that the total number of housing units meeting the requirements of 24 CFR 92.252 remains the same, and each substituted unit is comparable in terms of size, features, and number of bedrooms to the originally designated HOME Units.
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HOME Units. The specific units affected by this Restriction shall be "floating" units, that is, there shall be no specified HOME-assisted units provided a minimum number of units is occupied in compliance with the HOME requirements specified above, and the floating units reflect the unit-size mix of the entire Project.
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HOME Units means [to come: designate those Units, if any, that are financed with, constructed with, or receive the benefit of HOME Moneys. It is contemplated that if any HOME Moneys are made available to the Project, all of the Units will be HOME Units].
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Examples of HOME Units in a sentence

  • To the extent that HOME income limits are published and made effective later than the Section 8 limits, Owner acknowledges that the qualifying incomes for HOME Units will not be changed until updated HOME income limits are published.

  • In the event other financing sources, including but not limited to the LIHTC program, allow a higher rent, the HOME rent limits shall continue to apply to any HOME Units.

  • The tenant selection plan will be subject to review and approval by ADFA both prior to initial occupancy of the HOME Units and during the Term.

  • Owner must submit an Affirmative Fair Housing Marketing Plan (“AFHMP”), using form HUD-935.2A, or on another such form as ADFA may reasonably require, for ADFA review prior to marketing and leasing the HOME Units.


More Definitions of HOME Units

HOME Units mean the Project rental units which have received allocations of HOME Funds which have been designated in the Agreement as either fixed or floating units.
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HOME Units mean the following County-Assisted Units: three (3) Extremely Low Income Units and eight (8) Forty Percent Income Units.
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HOME Units means thirteen (13) of the Housing units as follows: (a) at 000 Xxxxxx Xxxxxx: (i) two (2) of the two (2) bedroom, two (2) bath Housing Units shall be Low HOME Units, and (ii) two (2) of the two (2) bath Housing Units shall be High HOME Units; (b) at 000 Xxxxxx Xxxxxx: (i) one (1) of the two (2) bedroom, two (2) bath Housing Units shall be Low HOME Units, and (ii) three (3) of the two (2) bath Housing Units shall be High HOME Units; and (c) at 000 Xxxx Xxxxx: (i) one (1) of the one (1) bedroom, two (2) bath Housing Units shall be a Low HOME Unit,
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HOME Units means those units in the Improvements rented pursuant to 5.18 of this Agreement.
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Related to HOME Units

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 3.3.

  • Class B Units means the Class B Units of the Company.

  • Restricted Shares shall have the respective meanings set forth in Section 2.14.

  • Restricted Stock means Shares issued pursuant to a Restricted Stock award under Section 7 of the Plan, or issued pursuant to the early exercise of an Option.

  • Common Units is defined in the Partnership Agreement.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.