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 is viewed as a given by both organizations though a lack of firm long-range financial plans persist.

  • Permanent affordability will be monitored through deed covenants or land use restriction agreements.

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

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

  • When the consideration transferred by the Group in a business combination includes assets or liabilities resulting from a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in business combination.

  • Permanent affordability of the homes in the Project, guaranteed through a regulatory agreement with HCR holding a term of no less than 60, but no more than 99 years.

  • 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 the goal with this policy, and has made it a model for other jurisdictions to follow.

  • Permanent affordability standards shall restrict the use of the housing accommodation to require that permanent affordability restrictions remain in force for 99 years and are renewed at year 100.


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.

  • Affordability average means the average percentage of median income at which restricted units in an affordable housing development are affordable to low- and moderate-income households.

  • Permanent foster care means an out-of-home placement in which there is a long-term

  • 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.

  • Insurance Affordability Program means a program that is one of the following:

  • 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:

  • 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 development means a housing development all or a portion of which consists of restricted units.

  • 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.

  • 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.

  • Permanent structure means a permanent building or permanent structure that is anchored to a permanent foundation with an impermeable floor, and that is completely roofed and walled (new structures require a door or other means of sealing the access way from wind driven rainfall).

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

  • Affordable housing means housing that is available at a cost low enough to meet the needs of eligible households having regard to local incomes and local house prices and which will remain at an affordable price for future eligible households or, if not, that the subsidy is recycled for alternative affordable housing provision