Limited equity cooperative definition

Limited equity cooperative or “LEC” means a cooperative required by a government agency or nonprofit organization to limit the resale price of membership shares for the purpose of keeping the housing affordable to incoming members that are low- and moderate-income.
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Limited equity cooperative. ’ means a shared equity
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Limited equity cooperative means a limited equity Housing Cooperative that limits the return allowed when its shares are sold.
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Examples of Limited equity cooperative in a sentence

  • Limited equity cooperative" means a cooperative affordable housing corporation organized in accordance with section 1754.[PL 1993, c.

  • Limited equity cooperative housing can keep housing permanently affordable through legal restrictions on the financial gain on the future sale of shares.

  • In this manner, we progress both the articles and principles of Te Tiriti o Waitangi by maintaining the balance between Kawanatanga (Governance) of the Council and Tino Rangatiratanga (Sovereignty) of whānau, hapū, and iwi Māori.3.2 There are no known cultural considerations associated with the matters addressed in thisreport.

  • Jean relied on them the way one would rely on family—everything from post-surgery care to funeral arrangements for her husband and son.

  • Limited equity cooperative housing is a form of multi-family housing that offers residents both affordable ownership opportunities and management control.


More Definitions of Limited equity cooperative

Limited equity cooperative means a cooperative corporation formed under ORS chapter 62 whose articles of incorporation, in addition to the other requirements of ORS chapter 62, prohibit members from selling their ownership interests:
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Limited equity cooperative means a cooperative formed as a common interest community in which the real property is owned by the cooperative, each of whose members is entitled by virtue of his ownership interest in the cooperative to exclusive occupancy of a unit and whose declaration contains any restrictions on (1) the amount for which a unit may be sold, or (2) the amount that may be received by a cooperative member on the (A) sale or condemnation of, or casualty loss to, the unit or to the common interest community,
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Limited equity cooperative means a cooperative operating on a property owned in part by 7its occupants. A not-for-profit corporation may own an interest in the property.8Not-for-Profit Rental Cooperative means a rental cooperative owned by a corporation9registered with the United States government pursuant 26 U.S.C. § 501(c)(3).10Private equity cooperative means a cooperative operating on a property owned jointly by11the residents of the cooperative.1213 Rental cooperative means a cooperative in which the some or all of the residents do not14 have an ownership interest in the property in which the cooperative operates.15 Section 7. A new Chapter 10-11 is added as follows:16 Chapter 11 Cooperative Housing17 10-11-1. Legislative Intent 18 The City Council intends to facilitate cooperative living arrangements. The Council finds19 that cooperative living arrangements can provide an affordable alternative for living in Boulder.20 In addition, cooperative arrangements can provide supportive and fulfilling community for their21 residents. The City Council seeks to balance the benefits of cooperative living against the 22impacts from the increased density that comes along with cooperative living. The City Council23also is concerned about cooperatives competing in a tight housing market with families seeking24single family homes.25 1 10-11-2. - Cooperative License Required Before Occupancy.2 No person shall occupy, allow, or offer to allow through advertisement or otherwise, any3 person to occupy any cooperative housing unit unless the cooperative housing unit has been4 issued a valid cooperative housing license by the city manager.5 10-11-3. – Cooperative Housing Licenses.6 (a) License terms shall be as follows:
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Limited equity cooperative means a cooperative operating on a property owned in part by
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Limited equity cooperative means a cooperative housing corporation, organized in
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Related to Limited equity cooperative

  • Manager-managed limited liability company means a limited liability company that is managed by

  • Limited Condition Acquisition Agreement means, with respect to any Limited Condition Acquisition, the definitive acquisition documentation in respect thereof.

  • Limited Liability Company Interests means the entire limited liability company membership interest at any time owned by any Pledgor in any limited liability company.

  • Professional limited liability company means a limited

  • Member-managed limited liability company means a limited liability company that is not a manager-managed limited liability company.

  • Limited Condition Acquisition means any acquisition, including by way of merger, by the Borrower or one or more of its Restricted Subsidiaries permitted pursuant to this Agreement whose consummation is not conditioned upon the availability of, or on obtaining, third party financing.

  • REAL ESTATE MORTGAGE INVESTMENT CONDUIT (A "REMIC") AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"). [FOR SUBORDINATE CERTIFICATES][THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE CLASSES OF CERTIFICATES OF THE SAME SERIES AS AND TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.] [FOR PRINCIPAL BALANCE CERTIFICATES][THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.] [FOR CLASS X-1 AND CLASS X-2 CERTIFICATES][THE OUTSTANDING CERTIFICATE NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL.] [FOR REGULATION S GLOBAL CERTIFICATES][PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE LATER OF (A) THE CLOSING DATE AND (B) THE COMMENCEMENT OF THE INITIAL OFFERING OF THE CERTIFICATES IN RELIANCE ON REGULATION S, THIS CERTIFICATE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED. NO BENEFICIAL OWNERS OF THIS CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENT OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

  • Limited Conditionality Acquisition means any Acquisition that (a) is not prohibited hereunder, (b) is financed in whole or in part with a substantially concurrent incurrence of Indebtedness, and (c) is not conditioned on the availability of, or on obtaining, third-party financing.

  • Securities Financing Transactions Regulation means Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012;

  • Public-private partnership agreement means an agreement

  • SPE Equity Owner is not applicable. Borrower will not be required to maintain an SPE Equity Owner in its organizational structure during the term of the Loan and all references to SPE Equity Owner in this Loan Agreement and in the Note will be of no force or effect.

  • Pledged Partnership Agreements means all of each Grantor’s rights, powers, and remedies under the partnership agreements of each of the Pledged Companies that are partnerships.

  • Limited liability company means a limited liability company formed under Chapter 1705 of the Ohio Revised Code or under the laws of another state.

  • Foreign limited liability limited partnership means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to section 488.404, subsection 3.

  • Pledged Equity has the meaning specified in the Security Agreement.

  • Limited liability means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • Limited Liability Company Agreement means the Amended and Restated Limited Liability Company Agreement of the Depositor, dated as of March 1, 2001, executed by Ford Credit, as sole member; or the Limited Liability Company Agreement of Ford Credit, dated as of April 30, 2007 and effective on May 1, 2007, as the context requires.

  • Securities Financing Transactions means collectively securities lending transactions, sale and repurchase transactions and reverse repurchase transactions.

  • Collateral Acquisition Agreements means each of the agreements entered into by the Issuer in relation to the purchase by the Issuer of Collateral Debt Obligations from time to time.

  • Company Acquisition Agreement has the meaning set forth in Section 5.04(a).

  • Pledged Operating Agreements means all of each Grantor’s rights, powers, and remedies under the limited liability company operating agreements of each of the Pledged Companies that are limited liability companies.

  • Limited Liability Company Assets means all assets, whether tangible or intangible and whether real, personal or mixed (including, without limitation, all limited liability company capital and interest in other limited liability companies), at any time owned or represented by any Limited Liability Company Interest.

  • Land acquisition means the taking of or alienation of land, buildings or other assets thereon for purposes of the Project.

  • Investment Management Agreement means the Investment Management Agreement, dated as of the date hereof, by and between the Investment Manager and the Borrower.

  • Foreign limited liability company means an unincorporated entity formed under the law of a jurisdiction other than this state and denominated by that law as a limited liability company.