Qualified Units definition

Qualified Units means Units that are occupied by Project Qualified Residents, or after initial occupancy by a Project Qualified Resident, set aside for Project Qualified Residents.

Qualified Units means only those Units for which the particular state in which the Units are sold does not (i) require that more than 12,000 Units be sold before subscribers from such state may be admitted as Limited Partners or (ii) prohibit the payment of commissions with respect to sales of such Units, provided, however, when the aggregate number of Units sold exceeds the requirements of the particular state with respect to (i) and/or (ii) above, such Units shall become Qualified Units.

Qualified Units means the number of housing opportunity units located in the property with the limitation that no more than 2 units or 20% of the total units contained within the property, whichever is greater, may be considered qualified units. Further, no unit may be considered qualified unless the property in which it is contained is in substantial compliance with local building codes, and, moreover, no unit may be considered qualified unless it meets the United States

Examples of Qualified Units in a sentence

• OHCS may limit or disapprove of other Project charges, including Rents for non- Qualified Units as it determines are necessary or appropriate to ensure appropriate access to and use of Qualified Units.

• The Qualified Units will be of a quality comparable to those Units that are rented by other Residents.

• OHCS may rely upon statements, certificates, and other records of Owner and its agents and assigns, as well as of Residents of Qualified Units, including as to accuracy, genuine nature, and proper execution of such statements, certificates, and other records.

• OHCS also may limit other Unit Rents and Project fees as it determines, in its sole discretion, is necessary or appropriate to ensure the affordability of or access to Qualified Units.

• Owner will use its reasonable efforts to advertise and market the Project Dwelling Units, particularly the Qualified Units, within the County and, if applicable, City in which the Project is located.

• Dwelling Units that are Qualified Units at the beginning of their occupancy will continue to qualify as Qualified Units until the earlier of (i) the date the character of the Unit is re-determined pursuant to the next sentence hereof or (ii) the circumstances described in subparagraph (c)(iii) hereof.

• The Rent Mechanism is the schedule of maximum rents to be charged to Qualified Households occupying Qualified Units that establishes Affordability.

• Qualified Units will be dispersed throughout the Project in a manner acceptable to OHCS and in compliance with Section 2.

• Owner will use Loan or other Conduit Bond or LIHTC funds only for financing of eligible costs related to Project Work with respect to the [Number Longhand~] ([#~]) Qualified Units of the [Number Longhand~] ([#~]) total Units in the Project and such eligible common areas and other aspects of the Project, consistent with Program Requirements, as well as any other Units and elements as described in the Application and approved in the Reservation.

• Throughout the Affordability Period, Owner will restrict Rents with respect to the Qualified Units in compliance with Program Requirements, with not-to-exceed limit standards as reflected in the above table.

More Definitions of Qualified Units

Qualified Units means the number of housing opportunity

Qualified Units means Dwelling Units, the respective Residents of which have an aggregate gross income of not more than the applicable limits permitted in this Agreement at the time of initial occupancy. A Residential Unit occupied by one or more students will only constitute a Qualified Unit if such students meet the requirements of Section 142(d)(2)(c) of the Code. The character of a Unit as a Qualified Unit will be re-determined from time to time as described in this Agreement. [Note: If shaded sentence not applicable, delete.]

Qualified Units means those low-income apartment units in the Apartment Complex which meet the requirements of Section 42(i)(3) of the Code.

Qualified Units means the number of housing opportunity units located in the property, with the limitation that no more than two units or 20 percent of the total units in the property, whichever is greater, may be considered qualified units. The unit must also be in compliance with local building codes and housing quality standards.

Qualified Units means Dwelling Units, the respective Residents of which have an aggregate gross income of not more than the applicable limits permitted in this Agreement at the time of initial occupancy. A Residential Unit occupied by one or more students will only constitute a Qualified Unit if such students meet the requirements of Section 142(d)(2)(c) of the Code. The character of a Unit as a Qualified Unit will be re-determined from time to time as described in this Agreement. There are to be twenty-four (24) Qualified Units in the Project and zero (0) manager’s units, which when not occupied by an onsite manager acceptable to OHCS, also shall be deemed to be (and must comply with the terms of) a Qualified Unit.