Physical Needs Assessment definition

Physical Needs Assessment means a report by a qualified housing professional identifying those items that are necessary repairs, replacements and improvements at the time of the assessment or that will likely require repairs, replacements or improvements within three years of the assessment, and the estimated cost of all such items. The rules shall set forth standards for qualified housing professionals.
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Physical Needs Assessment shall have the meaning set forth in Section 9(a)(ix) of this Lease.
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Physical Needs Assessment means a report by a qualified housing professional identifying those items that are necessary repairs, replacements and maintenance at the time of the assessment or that will likely require repair or replacement within three (3) years of the assessment, and the estimated cost of all such items, which repair replacement and maintenance
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Examples of Physical Needs Assessment in a sentence

  • The Integrated Physical Needs Assessment (IPNA) is a property evaluation tool jointly developed and released by the NYC Housing Development Corporation (HDC), New York City Department of Housing Preservation and Development (HPD), and New York State Homes and Community Renewal (HCR).

  • Revise the applicable CFP 5-Year Plan and Annual Budget to incorporate all eligi- ble activities based on capital needs identified in the annual inspections, NSPIRE inspections, Physical Needs Assessment, and HACM’s knowledge of current con- ditions of the property to cure deficiencies by March 31st, 2026 and on an ongoing basis.

  • Complete a Physical Needs Assessment for all properties by 12/31/2025.

  • Landlord shall review the Physical Needs Assessment report and within business days from the receipt of said report send a list of the required repairs to the Improvements (the “PNA Repairs”).

  • Development Owner shall contract for a third-party Physical Needs Assessment (“PNA”), specifically a SCR, in accordance with TAC §11.205 and 10 TAC §11.306, at appropriate intervals that are consistent with the first lien lender requirements.

  • The Borrower shall maintain the Property and make repairs as specified in the Physical Needs Assessment and shall otherwise comply with Section 2306.186(e), (f) and (g) of the Texas Government Code (the Corporation shall be considered the “department” under such statute), as amended, and follow the recommendations in the Asset Oversight Agreement.

  • Owner shall cause the timely completion of substantial rehabilitation work at the Property, consistent with the work recommended in the Physical Needs Assessment for the Property dated May 20, 2009, prepared by EMG.

  • The Borrower shall submit to the Corporation, within fifteen (15) Business Days of receipt thereof, copies of the most recent Physical Needs Assessment report, any response by the Borrower to the Physical Needs Assessment, and, subject to Section 5.22 of the Loan Agreement, information on any necessary adjustments to amounts held in the Replacement Reserve Fund (as defined in the Indenture) based on the Physical Needs Assessment.

  • If the Corporation determines in its reasonable discretion, that (i) the Property is in violation of Section 2306.186(e), (f) or (g) of the Texas Government Code; or (ii) the Borrower has not completed the repairs/replacements pursuant to the applicable Physical Needs Assessment, the Corporation shall provide written notice to the Borrower of such violation with a list and description of each violation and the action needed to effect a remediation of the violation.

  • Prior to the requirement to perform the Physical Needs Assessment, Tenant shall send a notice to Landlord, which notice shall set forth a schedule for the completion of the Physical Needs Assessment along with a detailed punch-list of the items required to be inspected by the Physical Needs Assessment (the “PNA Plan”).