Inclusionary Unit definition

Inclusionary Unit means a Residential Unit that is: (i) required pursuant to the DDA, (ii) subject to a deed restriction related to the affordability of the Residential Unit or income restrictions for its occupants, (iii) approved by the Successor Agency as an affordable housing unit priced for sale or lease with an AMI Percentage that is a minimum of 80% and a maximum of 120%, and (iv) not an Agency Housing Unit.

Inclusionary Unit means a Residential Unit that is, pursuant to the Housing Plan, subject to restrictions related to the affordability of the Residential Unit or income restrictions for its occupants, and is not an Authority Housing Unit.

Inclusionary Unit is defined in the Below-Market Rate Housing Plan. “Increment Allocation FY” means the Agency Fiscal Year in which Developer has received the Major Phase Increment Allocation Amounts for all Major Phases.

Examples of Inclusionary Unit in a sentence

• Owner will be responsible for obtaining the certifications and shall submit photocopies of all income certifications to ACC not later than fifteen (15) days prior to tenant’s initial occupancy of an Inclusionary Unit on the Property.

• The documents for For-Sale Units shall also include subordinate shared appreciation promissory notes permitting the City to capture at resale the difference between the market rate value of the Inclusionary Unit and the Affordable Housing Cost, plus a share of appreciation realized from an unrestricted sale in such amounts as deemed necessary by the City to replace the Inclusionary Unit.

• During the affordability period, the owner or occupant may not sublet an Inclusionary Unit to a Household other than an Income Eligible Household, or at a rent in excess of the Affordable Rent.

• The rental charge or purchase price for each Inclusionary Unit shall, as set forth in the definition of “Affordable” above, deduct the Parking Cost, regardless of whether the renter or purchaser of the Inclusionary Unit rents or purchases a Parking Space.

• At any time the original Buyer wishes to offer an Inclusionary Unit for resale, the Buyer (now the Seller) must notify the City Office of Planning and Economic Development.

More Definitions of Inclusionary Unit

Inclusionary Unit means a Unit for which the rental charge or purchase price is Affordable with an AMI Percentage that is equal to a minimum of eighty percent (80%) and a maximum of one hundred twenty percent (120%), and includes the recorded restrictions as set forth in Section 3.4(a).

Inclusionary Unit means a dwelling unit for sale or for rent that

Inclusionary Unit means a dwelling unit required by this chapter to be affordable to 35% AMI, very low, low, median or moderate-income households and subject to recorded affordability restrictions.

Inclusionary Unit means a dwelling unit that will be offered for sale or rent to low or Moderate-Income Households, at an affordable housing cost, in compliance with this Article.

Inclusionary Unit is defined in the Affordable Housing Plan. “Indemnified Party(ies)” is defined in Section 5.2.

Inclusionary Unit means a Dwelling Unit developed pursuant to an Affordable Housing Agreement that will be offered For-Sale or rent to Very Low-, Low- and Moderate- Income Households, at an Affordable Rent or Affordable Sales Price, as applicable, pursuant to this Chapter.

Inclusionary Unit means a dwelling unit that must be offered at Affordable Rent or available at an Affordable Housing Cost to moderate-, low- and very low-income Households.