Shared Ownership Units definition

Shared Ownership Units means the Affordable Dwellings to be occupied by persons who are in Housing Need whereby a person granted a Shared Ownership Lease can purchase an initial equity share in a Shared Ownership Unit of not less than 25% and not more than 75% and pay rent on the unsold equity with flexibility for such a person to purchase further equity shares in the Shared Ownership Unit up to 100% or such other equity sharing or retention terms from time to time approved by the Borough Council

Shared Ownership Units means the number of Flexible Dwellings disposed of or to be disposed of by way of Shared Ownership Lease set out within the Firm Scheme Details; Site means the site (including any part of it) identified to the GLA as being the area of land comprised or to be comprised in a Firm Scheme and/or the Affordable Dwellings and common areas developed as part of such Firm Scheme;

Shared Ownership Units means those Affordable Housing Units that are to be disposed of by Shared Ownership Lease or other Intermediate affordable housing as that term is defined in the National Planning Policy Framework and approved by the Council as a form of Affordable Housing at the time of the [submission of the Reserved Matters Application] Commencement of Development

Examples of Shared Ownership Units in a sentence

• Mark Taylor, Deputy Chief Executive had submitted a note declaring an interest in items 4 and 11 (Purchase of Affordable Rent and Shared Ownership Units – Northicote Development (WV Living) due to being a Director of WV Living.

• Members were reminded that planning permission had been received in June, 2020 for a mixed use scheme including 100 residential units, of which, fourteen had been identified as Affordable Rented Units and six had been identified as Affordable Shared Ownership Units.

• That without public subsidy shall provide on the Site a tenure mix of [ ]% Rented Affordable Housing Units and [ ]% Shared Ownership Units and shall unless otherwise agreed [as part of the approval of the Reserved Matters Application/prior to the Commencement of Development] be in the following proportions rounded to the nearest whole Dwelling:- [ set out in Table- Dwelling type; %Rented Affordable Housing Units; %Shared Ownership Units] 3.

• The completed Development shall provide 25% Affordable Housing (calculated on the basis of Habitable Rooms) and no more than 50% of the said Affordable Housing shall comprise Shared Ownership Units (Section 106, Schedule 3, Para.

• The Deed of Modification would cover the following matters: • removal of affordable housing provision on site (12 Shared Ownership Units); and • payment of a commuted sum of £822,106.

More Definitions of Shared Ownership Units

Shared Ownership Units means the Affordable Intermediate Units in respect of which a Shared Ownership Lease is granted and "Shared Ownership Unit" shall mean any one of these units;

Shared Ownership Units means Affordable Housing Units which will be offered for shared ownership by the Owner to persons in need of affordable housing in accordance with Schedule [ ]

Shared Ownership Units means Affordable Housing Units which will be offered on

Shared Ownership Units means 191 Residential Units constructed or to be constructed within Block 1 on the Kingfield Road Residential Land in accordance with the Kingfield Road Planning Permission and shown for illustrative purposes on Plan 7 (and “Shared Ownership Unit” shall be construed accordingly);

Shared Ownership Units means the Affordable Dwellings to be occupied by

Shared Ownership Units means any Affordable Dwelling Units to be Provided as shared ownership units for sale in accordance with this Agreement;

Shared Ownership Units means the Affordable Housing Units to be constructed on the Site to provide social housing by way of Shared Ownership available for leasehold purchase on a shared equity scheme enabling the purchase of an agreed proportion of equity in a lease (of not less than 25% and not greater than 90% thereof) by the occupier who continues to pay rent on the proportion of the lease which has not been so purchased.