Set Aside Units definition

Set Aside Units means “Low Income Units.”
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Set Aside Units. For Qualified Projects with more than four residential housing units, the RRDP will require a specified number of set-aside units (“Set-Aside Units”) to be occupied by Qualified Households with lower household incomes based upon the number of residential housing units in a Qualified Project and for an Affordability Period as specified below: Residential Rental Housing Units Qualified Household Incomes Set-Aside Units 4 or fewer units 80% AMI and below None 5 units 80% AMI and below One (1) for 50% AMI Household 6-7 units 80% AMI and below Two (2) for 50% AMI Household
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Set Aside Units. For Qualified Projects with more than four residential housing units, the NLRP Initiative requires a specified number of units to be occupied by Qualified Households with lower household incomes based upon the number of residential housing units in a Qualified Project and for an Affordability Period as specified below: Residential Housing Units Qualified Household Incomes Set-Aside Units Minimum Affordability Period 4 or fewer units 80% AMI and below None five (5) years 5 units 80% AMI and below One (1) for 50% AMI Household five (5) years 6 units 80% AMI and below Two (2) for 30% AMI Household five (5) years 7 units 80% AMI and below Three (3) for 30% AMI Household five (5) years
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Examples of Set Aside Units in a sentence

  • For example, based on the $45 per unit fee published in the Authority’s 2015-2016 QAP, such annual fee would equal $468.00 (equal to 8 Set Aside Units x $45 per unit x 1.3).

  • Owner shall maintain all records relating to the Set Aside Units, including resident income certifications and documentation of rental charges, for a period of not less than three (3) complete calendar years after the date of such records.

  • Upon reasonable notice to Owner, either the Authority or Village may inspect the Owner's books or records relating to the Set Aside Units and any statement of facts contained in any Annual Certification.

Related to Set Aside Units

  • 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.

  • 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.

  • Preferred Units means the Series A Preferred Units and the Series B Preferred Units.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Senior Stock means any class or series of stock of the Company now existing or hereafter authorized which has preference or priority over the Series F Preferred Stock as to the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

  • 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).

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

  • Dividends shall have the meaning provided in Section 10.6.

  • Common Units is defined in the Partnership Agreement.

  • Series A Units means Series A currency hedged mutual fund units or Series A non-currency hedged mutual fund units of a fund, as applicable.

  • Junior Shares means the Common Shares and any other class or series of shares of beneficial interest of the Trust now or hereafter issued and outstanding over which the Series 1 Preferred Shares has preference or priority in the payment of dividends or in the distribution of assets on any liquidation, dissolution or winding up of the Trust.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.