Moderate income housing unit definition

Moderate income housing unit means a residential unit reserved for occupancy by an individual or family earning not more than 80 percent of the area median income, adjusted for family size, as defined by the United States Department of Housing and Urban Development.
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Moderate income housing unit means a residential
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Moderate income housing unit means a housing unit where a household whose income is no more than 80% of the area median income is able to occupy the housing unit paying no more than 30% of the household's income for gross housing costs, including utilities.
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Examples of Moderate income housing unit in a sentence

  • DISCUSSION: The vesting tentative map of Tract No. 69170 was conditionally approved by the Advisory Agency on January 15, 2010 for a maximum six-unit (6) condominium conversion project with one of the units set aside / designated as a Low or Moderate income housing unit.


More Definitions of Moderate income housing unit

Moderate income housing unit means a residential unit reserved for occupancy by an individual or family earning not more than 80 percent of the area median income, adjusted for family size, as defined by the United States Department of Housing and Urban Development. The percentage of housing units in each category of housing units that are reserved for occupancy by individuals and families earning less than sixty (60%) of the area median family income and by individuals and families earning less than eighty (80%) of the area median family income, based on the number of bedrooms per unit, shall be the same as the percentage of each category of housing units reserved in the Project as a whole. The determination of whether an individual or family meets the above income requirements shall be made in accordance with the Tax Regulatory Agreement, including, but not limited to, the treatment of any qualifying tenants who subsequently cease to be of low or moderate income during their tenancy as set forth in Section 3 of the Tax Regulatory Agreement.
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Moderate income housing unit means, for purposes of calculating Density, a multi-family residential unit intended to be occupied for residential (primary home) living purposes intended for moderate income households. Each separate dwelling unit within a multi-family apartment building equals one Moderate Income Housing Unit.
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Related to Moderate income housing unit

  • Moderate income housing means housing affordable,

  • Plan for moderate income housing means a written document adopted by

  • Moderate-income household means a household with a total gross annual household income in excess of 50 percent but less than 80 percent of the median household income.

  • Moderate-income unit means a restricted unit that is affordable to a moderate-income household.

  • Moderate Income means more than 50 percent but less than 80

  • Housing Unit is either a Presold Unit, a Spec Unit or a Model Unit.

  • Affordable Housing Unit means a rental unit in an affordable housing building that rents for an amount that is affordable to households at or below 60% of area medianincome, as most recently determined by the United States Department of Housing and Urban Development for the Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for household size and number of bedrooms.

  • Non-profit housing development means development of a building or structure intended for use as residential premises by,

  • Affordable Housing Units – means the Affordable Housing to be provided as part of the Development in accordance with the application and/or any subsequent reserved matters approval.

  • Generating Unit means one or more generating equipment combinations typically consisting of prime mover(s), electric generator(s), electric transformer(s), steam generator(s) and air emission control devices.

  • Supportive housing means housing with no limit on length of stay, that is occupied by the target population, and that is linked to an onsite or offsite service that assists the supportive housing resident in retaining the housing, improving his or her health status, and maximizing his or her ability to live and, when possible, work in the community.

  • Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, other than fees for providing managerial assistance, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Corporation receives from portfolio companies) accrued during the calendar quarter, minus the Corporation’s operating expenses for the quarter (including the Base Management Fee, expenses reimbursed to the Adviser under this Agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the Incentive Fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payment-in-kind interest and zero coupon securities), accrued income that the Corporation has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation.

  • Median household income (MHI) means the calculation computed by the U.S. Census Bureau - Income of Households - This includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not. Because many households consist of only one-person, average household income is usually less than average family income. The median divides the income distribution into two equal parts with 50% of the cases falling below the median income and 50% above the median. For households and families, the median income is based on the distribution of the total number of households and families, including those with no income. The median income for individuals is based on individuals 15 years old and over with income. Median income for households, families, and individuals is computed on the basis of a standard distribution.

  • Housing project means a project, or distinct portion of a

  • Affordable housing project means, for purposes of this part, title fourteen of article twenty seven of the environmental conservation law and section twenty-one of the tax law only, a project that is developed for residential use or mixed residential use that must include affordable residential rental units and/or affordable home ownership units.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.