Permanent affordability definition

Permanent affordability means that future rents and future sales
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Permanent affordability means that future rents and future sales prices of the Rental Housing Accommodation, or separate ownership interests in the Rental Housing Accommodation, shall be made affordable to households with targeted income levels.
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Permanent affordability. (Cooperative Housing) means rents will be restricted to 60% of the area median income. Unless otherwise required, such as if affordable housing funds are awarded, household income will not be verified or documented. Rents on individual bedrooms will be determined based on the “0 bedroom equal or greater than 475 sq. ft.” rent category of the city of Boulder rent table. If households with more than one person, such as a parent-child household or a couple household, rent one room, monthly rent for that household would be based on the number of rooms rented (i.e., one bedroom) not the number of individuals in the households. If a household rents more than one room, monthly rent cannot exceed 60% of the area median income for 0-bedroom units for each room that household rents.
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Examples of Permanent affordability in a sentence

  • Permanent affordability is accomplished by restricting resale to income eligible buyers, limiting the resale price, giving the CLT the right to repurchase the housing unit, and limited property taxes to those assessed on the housing unit – not including the property.

  • Permanent affordability could be required as a condition of participation.

  • Permanent affordability is retained by such measures as separating the ownership of the land from the ownership of the housing unit, whereby only the housing unit is purchased by the homebuyer, and by restricting the amount of equity that a homeowner can take from the housing unit upon sale, or other equivalent mechanisms.

  • Permanent affordability agreements or regulatory agreements will be recorded on the property at the time the loan is closed and will restrict the property to low-income occupants at certain income limits in perpetuity.

  • Permanent affordability standards shall remain in force for 99 years and are renewed at year 100.

  • Permanent affordability addresses the “leaky bucket” concern where affordable units may be lost when their subsidies expire.

  • Permanent affordability ensures that housing remains rent stabilized and affordable for households competing in an ever changing and challenging real estate market.

  • Permanent affordability is maintained through a shared equity provision that limits the amount of appreciation the seller may receive and establishes an affordable sale price.

  • Permanent affordability or longterm affordability: think about Exeter model: renewing 30 years that transfers with home ownership changes, unless one owner lives in home for 30 years, then lien/covenant expires.

  • Permanent affordability is a key component of the SHARE CLT model.


More Definitions of Permanent affordability

Permanent affordability. ’ means a designation for a
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Related to Permanent affordability

  • Affordability means a housing unit that satisfies at least one of the following criteria:

  • Period of Affordability means the time during which HOME Loan financed units must remain affordable to eligible households, as defined by HOME program regulations and this Plan. The Period of Affordability shall commence upon completion of the project and shall run for the period required under HOME regulations or the term of the HOME Loan, whichever is greater. Completion shall be defined as set forth in the HUD regulations for the HOME program.

  • Workforce means employees, volunteers, trainees or other persons whose performance of work is under the direct control of a party, whether or not they are paid by that party.

  • Palliative care means medical service rendered to reduce or moderate temporarily the intensity of an otherwise stable medical condition, but does not include those medical services ren- dered to diagnose, heal or permanently alleviate or eliminate a medical condition.

  • Diversity means variety among individuals. Diversity includes, for example, variations in socio-economic status, race, developmental level, ethnicity, gender, language, learning styles, culture, abilities, age, interests, and/or personality.

  • Long-term inpatient care means inpatient services for

  • Deaf/blindness means concomitant hearing and visual impairments, the combination of which causes such severe communication and other developmental and educational problems that they cannot be accommodated in special education programs solely for students with deafness or students with blindness.

  • Permanent residence means a place where the person abides, lodges, or resides for 5 or more consecutive days.

  • Outpatient status means, with respect to a covered servicemember who is a current member of the Armed Forces, the status of a member of the Armed Forces assigned to:

  • Students with disabilities means students who have individualized education programs regardless of the disability.

  • Affordable means, a sales price or rent level that is within the means of a low- or moderate- income household as defined within N.J.A.C. 5:93-7.4, and, in the case of an ownership unit, that the sales price for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.6, as may be amended and supplemented, and, in the case of a rental unit, that the rent for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.12, as may be amended and supplemented.

  • Health status-related factor means any of the following factors:

  • HSP’s Personnel and Volunteers means the Controlling Shareholders (if any), directors, officers, employees, agents, volunteers and other representatives of the HSP. In addition to the foregoing, HSP’s Personnel and Volunteers shall include the contractors and subcontractors and their respective shareholders, directors, officers, employees, agents, volunteers or other representatives;

  • 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.

  • Affordable housing development means a development included in the Housing Element and Fair Share Plan, and includes, but is not limited to, an inclusionary development, a municipal construction project or a 100 percent affordable development.

  • Rehabilitation Hospital means an Institution which mainly provides therapeutic and restorative services to Sick or Injured people. It is recognized as such if:

  • Hospice patient s family" means a hospice patient's immediate family members, including a spouse, brother, sister, child, or parent, and any other relative or individual who has significant personal ties to the patient and who is designated as a member of the patient's family by mutual agreement of the patient, the relative or individual, and the patient's interdisciplinary team.

  • Nursing home-type patients means a patient who has been in hospital more than 35 days, no longer requires acute hospital care, cannot live independently at home or be looked after at home, and either cannot be placed in a nursing home or a nursing home place is not available.

  • Workforce housing means housing for sale or rent with combined rental costs

  • Affordable housing means, unless the context clearly