Maximum Residential Units definition
Examples of Maximum Residential Units in a sentence
The Maximum Residential Units in the Planned Community shall be six thousand three hundred and thirty (6,330) Residential Dwelling Units.
Master Developer may construct up to ten percent (10%) of the Maximum Residential Units without any requirement to construct any Commercial Projects.
No building permits shall be issued for the final twenty (20%) of the Maximum Residential Units until the required Parks, Trails and Open Space have been completed.
Notwithstanding any contrary provision of this Agreement, the City’s entry into this MDA does not guarantee that the Master Developer will be able to construct the Maximum Residential Units or any other aspect of the Project until and unless all the applicable requirements of the City’s Vested Laws are complied with.
Before each successive twenty percent (20%) tranche of the Maximum Residential Units may be permitted by the Town building permits for another twenty percent (20%) of the Commercial Projects Estimated Size shall have been obtained and Master Developer shall have been prosecuting the construction and sale or leasing of the Commercial Projects with reasonable commercial diligence.
At least 63% of the total Maximum Residential Units shall be Individually Platted Dwelling Units.
If for any reason the Property Owner conveys any property not developed by Property Owners to be used by the public or for a quasi-public use, such conveyance of property shall not in any way affect or diminish the Maximum Residential Units.
Before Master Developer may construct the next twenty percent (20%) of the Maximum Residential Units (i.e., forty percent (40%) of the total) Master Developer shall have obtained from the Town and paid for building permits for at least another ten percent (10%) of the Commercial Projects Estimated Size (i.e., twenty percent (20%) of the total).
At Buildout of the Project, Master Developer and Owners shall be entitled to have developed the Maximum Residential Units as specified in and pursuant to this AMDA so long as the applicable Parks, Trails and Open Space requirements and other provisions of the Town’s Vested Laws are satisfied as more fully described in Section 3.6 below.
Upon any such transfer, Master Developer or Subdeveloper shall deliver a Development Report to the City, which includes the total Maximum Residential Units in each of the affected parcels.