Low or moderate income housing definition

Low or moderate income housing means any housing whether built or operated by

Low or moderate income housing means housing which is designed to be affordable, taking into account avail- able financing, to individuals or fami- lies whose household income does not exceed 115 percent of the median in- come for the area, as determined by the Secretary with adjustments for smaller and larger families. The Sec- retary may approve a higher percent- age up to 140 percent.

Low or moderate income housing means any housing subsidized by the federal, state, or municipal government under any program to assist the construction or rehabilitation of housing as low or moderate income housing, as defined in the applicable federal or state statute, or local ordinance whether built or operated by any public agency or any nonprofit organization, or by any limited equity housing cooperative or any private developer, that will remain affordable for ninety-nine (99) years or such other period that is either agreed to by the applicant and town but shall not be for a period of less than thirty (30) years from initial occupancy through a land lease and/or deed restriction or prescribed by the federal or state subsidy program but shall not be for a period less than thirty (30) years from initial occupancy through a land lease and/or deed restriction.

Examples of Low or moderate income housing in a sentence

• Low or moderate income housing units in a project should not be readily identifiable as such.

• Low or moderate income housing is synonymous with affordable housing.

• Low or moderate income housing; applications for approval of proposed construction; hearing; appeal Any public agency or limited dividend or nonprofit organization proposing to build low or moderate income housing may submit to the board of appeals; established under section twelve of chapter forty A; a single application to build such housing in lieu of separate applications to the applicable local boards.

• No. 2117 § 2, adopted 2/24/04) 7.08.080 Priority projects.75 The following projects shall be considered priority projects:(a) Low or moderate income housing projects.(b) Homeless shelters.(c) Child day care facilities.

More Definitions of Low or moderate income housing

Low or moderate income housing means housing for persons and families with low or moderate incomes, provided that the income limits for such persons and families shall be the same as those established by rule by the Illinois Housing Development Authority in accordance with subsection (g) of Section 2 of the Illinois Housing Development Act, as amended.

Low or moderate income housing means housing that is affordable for a household with an aggregate annual income that is below 120% of the area median income.

Low or moderate income housing means a residential structure or structures occupied by one or more low- or moderate-income families.

Low or moderate income housing means any units of housing for which a Subsidizing Agency provides a subsidy under any program to assist the construction or substantial rehabilitation of low or moderate income housing, as defined in the applicable federal or state statute or regulation, whether built or operated by any public agency or non‐profit or Limited Dividend Organization. If the applicable statute or regulation of the Subsidizing Agency does not define low or moderate income housing, then it shall be defined as units of housing whose occupancy is restricted to an Income Eligible Household.

Low or moderate income housing means any housing,

Low or moderate income housing means any housing subsidized by the federal, or

Low or moderate income housing means housing for