Set Aside Election definition

Set Aside Election means the federally imposed minimum proportion of total Project units set aside as Low Income Units at one or more Area Gross Median Income level(s). This election is made by the Applicant, and meets the minimum requirements of Code Section 42: larger proportions of units are generally set aside by the Applicant and restricted in the LURA.
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Set Aside Election means the proportion of total Project units set aside as Low Income Units at one or more Area Gross Median Income level(s) which is selected by the Applicant and which, at a minimum, meets the requirements of Code Section 42.
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Set Aside Election means the federally imposed minimum proportion of total Project units set aside as Low Income Units at one or more Area Gross Median Income level(s). This election is
Sample 1

Examples of Set Aside Election in a sentence

  • Once an Application has been submitted to MFA, the Set Aside Election cannot change.

  • Projects eligible for the Tax Credit may exceed these limitations, but cannot fall below them, and the Set Aside Election must be made at the time the Application is submitted to MFA.

  • Change in the Federal Set Aside Election or other Set Aside proposed in the Initial Application, subsequent to the Application Deadline.

  • Change in the Federal Set Aside Election or other set aside proposed in the Initial Application, subsequent to the Application Deadline.

  • The Set Aside Election must be made at the time the Application is submitted to MFA.

  • The Set- Aside Election must be made, and is irrevocable, no later than the date of the execution of the project’s IRS Form 8609 by CDA and the project owner in accordance with the requirements of Section E.8, below.

  • Only Low Income Units as determined by the Project’s Set Aside Election are eligible for Tax Credits.

  • New ClarificationMaximum Rent Limits are therefore informed by the Owner’s Minimum Set Aside Election.

  • In general, the Owner’s commitments remain defined by the Owner’s original Minimum Set Aside Election and the project’s Applicable Fraction.

  • Section 42 Irrevocable Set-Aside Election: Applicant must determine the Irrevocable Set Aside Election.

Related to Set Aside Election

  • Set-Aside means 1) a specific type of housing development category that the ADOH has identified as a priority for allocating tax credits; or 2) an identified number of housing units that the Owner will agree to be held for use by tenants with a certain level of income or by tenants in a particular group as described in Section 2.6 of this QAP.

  • Regular election means an election held on a regular election date to elect an individual to, or nominate an individual for, elective office in the regular course of the terms of that elective office.

  • Regular primary election means the election on the fourth Tuesday of June of

  • Primary election means any regular primary election held under the election

  • Dividend means any dividend (whether interim or final) resolved to be paid on Shares pursuant to the Articles.

  • Section 336(e) Election has the meaning set forth in Section 7.06.

  • Junior Stock means the Corporation’s common stock and any other class or series of stock of the Corporation hereafter authorized over which Series I Preferred Stock has preference or priority in the payment of dividends or in the distribution of assets on any liquidation, dissolution or winding up of the Corporation.

  • Dividend Parity Stock means any class or series of stock of the Corporation that ranks on a parity with the Series E in the payment of current dividends, including the Series A, the Series B, the Series C and the Series D.

  • Cash Dividend means any dividend or distribution in respect of the Ordinary Shares which is to be paid or made to Shareholders as a class in cash (in whatever currency) and however described and whether payable out of share premium account, profits, retained earnings or any other capital or revenue reserve or account, and including a distribution or payment to Shareholders upon or in connection with a reduction of capital.

  • Parity Stock means any class or series of stock of the Corporation (other than Designated Preferred Stock) the terms of which do not expressly provide that such class or series will rank senior or junior to Designated Preferred Stock as to dividend rights and/or as to rights on liquidation, dissolution or winding up of the Corporation (in each case without regard to whether dividends accrue cumulatively or non-cumulatively).

  • Scheduled Distribution means, with respect to any Collateral Loan, for each Due Date, the scheduled payment of principal and/or interest and/or fees due on such Due Date with respect to such Collateral Loan.

  • Exchange Election shall have the meaning specified in Section 14.12(a).

  • Make-Whole Fundamental Change Conversion Period has the following meaning:

  • Special Dividend means any special or abnormal dividend or distribution in respect of securities (including a distribution of income or capital) and includes a dividend or distribution described by the entity declaring that dividend or distribution as:

  • LCA Election has the meaning specified in Section 1.09(a).

  • Set Top Box or “STB” means a device, which is connected to or is part of a television receiver and which enables a subscriber to view subscribed channels;

  • Make-Whole Fundamental Change Period shall have the meaning specified in Section 14.03(a).

  • Cash Election shall have the meaning set forth in Section 3.2.2.