Shelter Rent means the total rents received from the commercial and residential occupants of the Exemption Area, including any federal subsidy (including, but not limited to, Section 8, rent supplements, and rental assistance), less the cost of providing to such occupants electricity, gas, heat and other utilities.
Shelter Rent means the rental or carrying charges established for occupancy in housing projects, exclusive of payments for taxes and charges for heat, light, water, cooking fuel, and other necessary utilities.
Shelter Rent means the “the total of all charges to all tenants of a Project for dwelling rents and non-dwelling rents (excluding all other income of such Project), less the cost to the Housing Authority of all dwelling and non-dwelling utilities.”
Examples of Shelter Rent in a sentence
The PILOT Certificate shall contain detailed information regarding the Shelter Rent, Utility Expenses and such other information as requested by the Agency or its counsel.
More Definitions of Shelter Rent
Shelter Rent means rent less any charges made by an authority for water, heat, gas and electricity.
Shelter Rent means the total rents received from the commercial and residential occupants of the Exemption Area, including any federal subsidy (including, but
Shelter Rent means the total rents received from the occupants of the Facility less the cost of providing to the occupants of the Facility electricity, gas, heat, and other utilities. Total rents shall include rent supplements and subsidies received from the federal government, the state or a municipality on behalf of such occupants, but shall not include (1) any rent subsidies from the government pursuant to section eight of the United States Housing Act of nineteen hundred thirty-seven, as amended, or (ii) interest reduction payments pursuant to subdivision (a) of section two hundred one of the Federal Housing and Urban Development Act of nineteen hundred sixty- eight.
Shelter Rent means net rental income received by the Company for the rental of the Residential Units for the calendar year in which the Tax Payment is due less Utility Expenses. The term “Utility Expenses” shall mean all utility and certain insurance charges incurred by the Company for operations at the Facility for the calendar year in which the Tax Payment is due; including, but not limited to, gas, water, sewer, electric and property insurance. Utility Expenses shall not include any utility or related costs incurred by any tenants residing at the Facility. Notwithstanding the foregoing or any other provision contained herein or in the Company Lease Agreement, the Company shall make a minimum Tax Payment on each Payment Date in an amount equal to $40,000 and thereafter shall pay the balance of the Tax Payment due to the Agency on or before April 1.
Shelter Rent means the total rents received from the occupants of the Facility minus the cost of providing electricity, gas, heat and other utilities but shall not include (a) the cost of any insurance in connection with the Facility or (b) any utility or related costs incurred by any tenants or other occupants residing at the Facility.
Shelter Rent means the total rents received from the occupants of the Facility less the cost of providing to the occupants of the Facility electricity, gas, heat, and other utilities. Total rents shall include rent supplements and subsidies received from the federal government, the state or a municipality on behalf of such occupants, but shall not include (1) any rent subsidies from the government pursuant to section eight of the United States Housing Act of nineteen hundred thirty-seven, as amended, or (ii) interest reduction payments pursuant to subdivision (a) of section two hundred one of the Federal Housing and Urban Development Act of nineteen hundred sixty-eight. The Company will make payments in lieu of taxes (“PILOT Payments”) for the Facility for a period of fifteen (15) years (the “PILOT Period”), commencing with the Tax Year 2022/2023 for the Facility in amounts equivalent to ten per centum (10%) of the annual Shelter Rent of the Facility in the calendar year preceding the year in which any such payment is due, provided that the first year of the PILOT Period, PILOT Payments shall be calculated based on a good faith estimate of the Shelter Rent provided by the Company. PILOT Payments shall be allocated among the Taxing Authorities in proportion to the amount of real property tax and other taxes which would have been received by each Taxing Authority if the Facility was owned by the Company exclusive of the Agency’s leasehold interest. All annual PILOT Payments as described above shall be payable on April 30th as provided in Section 5.1(d)(ii) of the Lease Agreement each year of the Lease Term or on such other due dates as may be established from time to time during the Lease Term. EXHIBIT D Mortgage Requirements Any Mortgage or related document which shall be entered into by the Agency and the Company shall contain the following required provisions: Non-Recourse and Hold Harmless Provisions to be included in the Lender’s Mortgage
Shelter Rent means “rent” as defined herein, less any charges made by a local authority, nonprofit corporation or housing partnership for water, heat, gas, electricity and sewer use charges.