Substantially rehabilitated definition

Substantially rehabilitated means units at imminent risk of loss to the housing stock which are substantially rehabilitated and therefore represent a net increase in the community’s affordable housing stock as described in paragraph (2) of subdivision (c) of Section 65583.1 of the Government Code, except that the city, county, or city and county may have committed assistance at any time during the projection period.

Substantially rehabilitated means rehabilitation in which the value of the rehabilitation constitutes at least 25 percent of the after-rehabilitation value of the dwelling unit(s). Originally, under AB 1290, the rehabilitated units to be included in this calculation consisted of all one- and two-unit complexes that have undergone substantial rehabilitation with Agency assistance, and all multi-family rented dwelling units with three or more units that are substantially rehabilitated, regardless of the funding source. As amended by SB 701 and AB 637, however, as of January I, 2002,

Substantially rehabilitated means units at imminent risk of loss to the housing stock which are Substantially Rehabilitated and therefore represent a net increase in the community’s affordable housing stock as described in paragraph

Examples of Substantially rehabilitated in a sentence

• Substantially rehabilitated housing must meet the cost-effective energy conservation and effectiveness standards set forth in 24 CFR part 39.

• See para- graphs (b) (4) and (5) of this section for additional requirements related to the definition of a qualified rehabilitated building.(2) Substantially rehabilitated build- ing—(i) Substantial rehabilitation test.

• Substantially rehabilitated housing must meet the cost effective energy conservation and effectiveness standards set forth in 24 CFR part 39.

• Substantially rehabilitated housing must meet the cost- effective energy conservation and effectiveness standards in 24 CFR 39.

• Substantially rehabilitated housing must meet the cost-effective energy conservation and effectiveness standards in 24 CFR 39.

• Substantially rehabilitated units with affordability covenants and restrictions of less than 20 years may be substituted at the rate of three rehabilitated units for one credit of affordable housing.

• Substantially rehabilitated means improved to a condition which meets the authority's underwriting/property standard requirements from a condition requiring more than routine or minor repairs or improvements to meet such requirements.

• Substantially rehabilitated projects that are covered to the same extent as new construction projects are those with fifteen or more units where the cost of the alteration is seventy-five percent or more of the replacement cost of the completed facility.

• See para- graphs (b) (4) and (5) of this section for additional requirements related to the definition of a qualified rehabilitated building.(2) Substantially rehabilitated build-ing—(i) Substantial rehabilitation test.

• Substantially rehabilitated residential structures, as defined in §381-12 of this chapter, and for a period as specified in § 381-13 of this chapter.

More Definitions of Substantially rehabilitated

Substantially rehabilitated means rehabilitation in which the value of the rehabilitation constitutes 25% of the after-rehabilitation value of the dwelling unit(s). Originally, under AB 1290, the rehabilitated units to be included in this calculation consisted of all one- and two-unit complexes that have undergone substantial rehabilitation with CIC assistance, and all

Substantially rehabilitated means with regard to a housing development the improvement thereof to a decent, safe and sanitary condition, or to improve the energy efficiency thereof, requiring more than routine or minor repairs or improvements, which may vary in degree from gutting and extensive reconstruction to cosmetic improvements coupled with cure of substantial accumulation of deferred maintenance. (78-Or-207, § 2, 10-13-78; 79-Or-238, § 3, 11-21-79; 83-Or-151, §§ 1--3, 6-24-83; Pet. No. 252271, § 39, 5-11-90) 247.210. Administration. The program director shall make recommendations to the members regarding the administration of the housing development program and shall perform such other duties as may be directed by the agency in carrying out the housing development program. (78-Or-207, § 2, 10-13-78) 247.220. Forms and procedures. The city shall prepare guides setting forth uniform procedures by which applications for mortgage loans shall be submitted and processed and the contents thereof, eligibility of borrowers [shall be] determined and commitmentsissued and other procedures necessary or desirable to assist in carrying on the housing development program. (78-Or-207, § 2, 10-13-78) 247.230. Applications for mortgage loans. Any individual, partnership, corporation or other business entity may apply for a mortgage loan to be made to an eligible borrower under the housing development program in accordance with this article. In the application for a mortgage loan, the applicant shall represent that each of the following conditions exist with respect to the mortgage loan which is the subject of the application: (a) Not less than ninety (90) per cent of the mortgage loan will be used to provide residential real property for family units and other property functionally related and subordinate thereto. (b) The housing development is not in violation of applicable zoning ordinances or other applicable land use guides including any urban renewal plan or development district plan if located in such an area.(c) Revenues to be produced by the housing development will be sufficient to meet payments when due on the mortgage loan. (d) If the eligible borrower is a limited dividend entity, the rate of return on the investment in the proposed housing development is reasonable in light of then existing conditions in the housing industry and financial markets and rate of return then prescribed by other governmental agencies. (e) If the mortgage loan is for a substantially rehabilitated housing ...

Substantially rehabilitated means rehabilitation, the value of which constitutes twenty-five percent (25%) of the after rehabilitation value of the dwelling, inclusive of land value. (CCRL Section 33413 (2) (A) (iv)).

Substantially rehabilitated means multi-family rented dwelling units with three or more units, single family dwelling units rehabilitated with Agency assistance where such rehabilitation constitutes at least twenty-five percent of the after-rehabilitation value of the dwelling unit, inclusive of land value.

Substantially rehabilitated means that the qualified

Substantially rehabilitated means rehabilitation, the value of which constitutes 25 percent of the after rehabilitation value of the dwelling, inclusive of the land value.