TCAC AMI definition

TCAC AMI means the area median income for San Diego County determined in accordance with 26 USC Section 142(g)(2)(C).
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TCAC AMI means the area median income for San Diego County determined in accordance with 26 USC 42 (g). In no event shall the Affordable Rent for Extremely Low Income households exceed the product of thirty percent (30%) times fifty percent (50%) of Area Median Income, adjusted for household size. STATE OF CALIFORNIA ) )ss COUNTY OF ) On , before me, , personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the state of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature RECORDING REQUESTED BY, AND WHEN RECORDED, MAIL TO: State of California Department of Housing and Community Development P. O. Xxx 000000 Xxxxxxxxxx, XX 00000-0000 Attn: Multifamily Housing Program Documents Coordinator 08-SHMHP-4330 [DRAFTING NOTE: THE SUBSTANTIVE PROVISIONS OF THIS FORM SHALL BE USED FOR THE HCD SUBORDINATION AGREEMENT AUTHORIZED BY THE DDA AS AMENDED, EXCEPT FOR MODIFICATIONS (INCLUDING ADDITIONS) TO THE RIGHTS AFFORDED TO THE AGENCY IN PARAGRAPHS 5 AND 6 HEREOF REASONABLY REQUESTED BY THE AGENCY EXECUTIVE DIRECTOR OR DESIGNEE TO PROTECT THE AGENCY’S INTERESTS IN THE AGENCY LOAN AND AGENCY LOAN DOCUMENTS. ANY AND ALL SUBSTANTIVE MODIFICATIONS PRIOR TO RECORDATION SHALL BE SUBMITTED TO THE AGENCY BOARD FOR APPROVAL.] THIS SUBORDINATION AGREEMENT AND ESTOPPEL CERTIFICATE (the "Agreement") is dated as of , 20 , for reference purposes only, and is entered into by and among Redevelopment Agency of the City of San Diego, a public body corporate and politic, (the "Junior Lienholder") and Cedar Gateway, L.P., a California limited partnership (the "Borrower"), and the Department of Housing and Community Development, a public agency of the State of California (the "Senior Lender").
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TCAC AMI means the area median income for San Diego County determined in accordance with 26 USC 42 (g). In no event shall the Affordable Rent for Extremely Low Income households exceed the product of thirty percent (30%) times fifty percent (50%) of Area Median Income, adjusted for household size.
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Examples of TCAC AMI in a sentence

  • Furthermore, in order to be competitive for HCD funding, at least 20% of all units would need to be set at 20% TCAC AMI, of about 30% MOHCD AMI.

  • MHP prioritizes providing permanent financing to extremely low-income units at or below 60% TCAC AMI.

  • However, these units’ affordability restrictions are now reduced to 82% MOHCD/60% TCAC AMI based on Mercy’s recent experience closing mixed-income deals and information they have received regarding some investors’ concerns related to higher income units in mixed income buildings.

  • However, HSH and MOHCD are in support of TNDC’s proposal to restrict LOSP units to 15% TCAC AMI for MHP competitiveness.

  • MOHCD has updated its budget to show 1% annual rent increase on the over 80% TCAC AMI units.

  • The project’s proposed population mix includes low- and moderate-income households with 102 units at 75% MOHCD AMI (approximately 50% TCAC AMI), 48 units at 90% MOHCD AMI, ( approximately 60% TCAC AMI) and the remaining 51 units at 120% MOHCD AMI (approximately 80% TCAC AMI)The AMI mix is designed to maximize the rental income achievable within the CalHFA MIP constraints, while structuring the project with as many 4% tax- credit units as possible (in this case 100%).

  • Units Size and Affordability Restrictions In the Evaluation dated January 29, 2021 some of the units are to be available through DAHLIA were planned to be affordable to households at or below 137% MOHCD AMI/80% TCAC AMI, to allow income eligible TI Legacy Households to move into tax credit eligible units rather than market rate units.

  • These rents are set at 50% TCAC AMI and the tenant paid portion is assumed to be 20% TCAC AMI.• $25,560 or $306,720 annually from 10 Transition Units.

  • In the absence of feedback from SFUSD and SFCCD, the Sponsor is proposing an income mix that balances the City’s goals of serving as many moderate-income households, maintaining an average below 100% AMI, and creating a feasible financing strategy that balances a competitive tax credit application for the CDLAC ELI/VLI set-aside (average TCAC AMI at or below 50% TCAC AMI) while containing the City gap request.

  • To support project feasibility and to have a more competitive tie- breaker, TNDC is proposing the following TCAC restrictions: • 35 LOSP units (or 50% of total units) restricted at 15% TCAC AMI are more deeply targeted compared to other LOSP projects.


More Definitions of TCAC AMI

TCAC AMI means the area median income for San Diego County determined in accordance with 26 USC 42(g)(2)(C). (In no event shall the Affordable Rent for Very Low Income households exceed the product of thirty percent (30%) times fifty percent (50%) of Area Median Income, adjusted for household size.) 1.0% Interest San Diego, California $21,873,000 [Date] FOR VALUE RECEIVED, BROADWAY TOWER ASSOCIATES, L.P., a California limited partnership (“Borrower”), hereby promises to pay to the CITY OF SAN DIEGO, a municipal corporation (“City”), or order, a principal amount of TWENTY ONE MILLION EIGHT HUNDRED AND SEVENTY THREE THOUSAND DOLLARS AND NO CENTS ($21,873,000.00) (the “Agency Loan”). This Note is given pursuant to that certain Disposition and Development Agreement dated as of December 15, 2009 entered into between the City of San Diego, a municipal corporation (as successor in interest to the rights and obligations of the Redevelopment Agency of the City of San Diego (“Agency”) under the DDA) (“City”), and Borrower, as amended by that certain First Amendment to the Disposition and Development Agreement dated August 8, 2011 and that certain Second Amendment to the Disposition and Development Agreement dated , 2012 (collectively the, “DDA”) and evidences the Agency Loan to Borrower, which provides part of the financing for the acquisition and development of that certain real property in the City of San Diego (the “Property”), legally described in the Agency Deed of Trust securing this Note. The DDA is incorporated herein by this reference as though fully set forth herein. DDA as used herein shall mean, refer to and include the DDA, as well as any riders, exhibits, addenda, implementation agreements, amendments and attachments thereto (which are hereby incorporated herein by this reference) or other documents expressly incorporated by reference in the DDA. The Borrower shall pay interest at the rate, in the amount and at the time hereinafter provided. The Borrower shall pay interest at the rate, in the amount and at the time hereinafter provided.
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TCAC AMI means the area median income for San Diego County determined in accordance with 26 USC 42(g)(2)(C). (In no event shall the Affordable Rent for Very Low Income households exceed the product of thirty percent (30%) times fifty percent (50%) of Area Median Income, adjusted for household size.) State of California ) ) ss County of ) On , before me, , (Here Insert Name and Title of the Notary Officer ) personally appeared I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing is true and correct. WITNESS my hand and official seal. This Amendment to Predevelopment Loan Note (the “Amendment to Predevelopment Loan Note”) is dated as of , 2012 by BROADWAY TOWER ASSOCIATES, L.P., a California limited partnership (“Borrower”), in favor of THE CITY OF SAN DIEGO, a municipal corporation, successor in interest to the rights and obligations of the former Redevelopment City of the City of San Diego under that certain Predevelopment Loan Note (as discussed further below).
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TCAC AMI means the area median income for San Diego County determined in accordance with 26 USC 42 (g). In no event shall the Affordable Rent for Extremely Low Income households exceed the product of thirty percent (30%) times fifty percent (50%) of Area Median Income, adjusted for household size. Exhibit No. 6 AMENDED PROJECT BUDGET Off-Site Improvements $ 320,000 Shell Construction- Residential $ 17,677,000 Shell Construction - Retail $ 1,304,000 Shell Construction - Public Garage $ 1,344,000 Contingency $ 1,100,000 Architecture & Engineering $ 1,083,000 Permits & Fees $ 1,000,000 Legal & Accounting $ 20, 00 Taxes & Insurance $ 425,000 Developer Fee $ 1,400,000 Marketing/Lease-Up $ 20,000 Contingency $ 240,000 Loan Fees $ 483,000 Interest During Construction $ 869,000 TCAC/Syndication Fees $ 109,000 Operating Lease-Up/Reserves $ 540,000 ATTACHMENT NO. 8 REVISED FORM OF AGENCY NOTE 5.0% Interest San Diego, California $3,661,000.00 [Date of Closing] FOR VALUE RECEIVED, CEDAR GATEWAY, L.P., a California limited partnership (“Borrower”), hereby promises to pay to the REDEVELOPMENT AGENCY OF THE CITY OF SAN DIEGO (“Agency”), a public body, corporate and politic, or order, a principal amount of THREE MILLION SIX HUNDRED SIXTY ONE THOUSAND DOLLARS AND NO CENTS $3,661,000.00 (the “Agency Loan”). This Note is given pursuant to that certain Disposition and Development Agreement dated as of May 22, 2008, between Borrower (“Owner” therein) and Agency, as amended by that certain First Amendment to Disposition and Development Agreement dated as of , 2009, (the “DDA”) and evidences the Agency Loan to Borrower, which provides part of the financing for the development of that certain real property in the City of San Diego legally described in the Deed of Trust securing this Note (the “Property”). The proceeds of this Note shall be disbursed to Borrower in accordance with the Disbursement Agreement attached to the DDA as Attachment No. 15 and incorporated herein by this reference. The obligation of Borrower to Agency hereunder is subject to the terms of the DDA, this Note and the following instruments, each dated on or about the date hereof, and, where applicable, executed and delivered by Borrower for the purpose of securing this Note: a Subordinate Deed of Trust, Security Agreement and Fixture Filing (With Assignment of Rents) (“Agency Deed of Trust”); an Assignment of Agreements, Plans, Specifications and Entitlements (“Assignment of Agreements”); and a UCC-1 Financing Statemen...
Sample 1

Related to TCAC AMI

  • Model 1 seller means a seller registered under the agreement that has selected a certified service provider as the seller's agent to perform all of the seller's sales and use tax functions for agreement sales and use taxes other than the seller's obligation under Section 59-12-124 to remit a tax on the seller's own purchases.

  • Model 4 seller means a seller that is registered under the agreement and is not a model 1 seller, model 2 seller, or model 3 seller.

  • Generation Interconnection Agreement means the large generator interconnection agreement to be entered into separately between Seller and Interconnection Provider concerning the Interconnection Facilities.

  • Advance Purchase Agreements means (a) an advance or deferred purchase agreement if the agreement is in respect of the supply of assets or services and payment in the normal course of business with credit periods which are normal for the relevant type of project contracts, or (b) any other trade credit incurred in the ordinary course of business.

  • Generation Interconnection Request means a request by a Generation Interconnection Customer pursuant to Tariff, Part IV, subpart A, to interconnect a generating unit with the Transmission System or to increase the capacity of a generating unit interconnected with the Transmission System in the PJM Region.

  • Digital Subscriber Line (DSL) means as defined in Attachment 14 - xDSL Loops.

  • PIPE Subscription Agreements has the meaning set forth in the recitals to this Agreement.

  • New Services Queue Closing Date means each April 30 and October 31 shall be the Queue Closing Date for the New Services Queue comprised of Interconnection Requests, Completed Applications, and Upgrade Requests received during the six-month period ending on such date. “New York ISO” or “NYISO” shall mean the New York Independent System Operator, Inc. or any successor thereto.

  • Call-Off Agreement means a legally binding agreement (entered into pursuant to the provisions of the Framework Agreement) for the provision of the Goods and/or Services made between a Contracting Body and the Supplier pursuant to Framework Schedule 5 (Call Off Procedure);

  • Transmission Interconnection Customer means an entity that submits an Interconnection Request to interconnect or add Merchant Transmission Facilities to the Transmission System or to increase the capacity of Merchant Transmission Facilities interconnected with the Transmission System in the PJM Region or an entity that submits an Upgrade Request for Merchant Network Upgrades (including accelerating the construction of any transmission enhancement or expansion, other than Merchant Transmission Facilities, that is included in the Regional Transmission Expansion Plan prepared pursuant to Operating Agreement, Schedule 6).

  • Model 2 seller means a seller registered under the agreement that:

  • Micro-purchase means a purchase of supplies or services, the aggregate amount of which does not exceed the micro-purchase threshold. Micro-purchases comprise a subset of a district's small purchases as defined in 2 C.F.R. 200.320.

  • Radiation machine means any device capable of producing radiation except those devices with radioactive material as the only source of radiation.

  • Locked-Up Shareholders means the Persons who are party to the Lock-Up Agreements.

  • Digital Subscriber Line (DSL) is as defined in the applicable Appendix DSL and/or the applicable tariff, as appropriate.

  • Closing Date Acquisition Agreement shall have the meaning assigned to such term in the recitals hereto.

  • Note Purchase Agreements means (i) that certain Note Purchase Agreement, dated as of April 16, 2014 among the Parent, the Borrower, and the purchasers party thereto, (ii) that certain Note Purchase Agreement, dated as of December 18, 2014 among the Parent, the Borrower, and the purchasers party thereto, and (iii) that certain Note Purchase Agreement, dated as of June 13, 2018, among the Parent, the Borrower, and the purchasers party thereto, in each case as amended from time to time.

  • Generation Interconnection Customer means an entity that submits an Interconnection Request to interconnect a new generation facility or to increase the capacity of an existing generation facility interconnected with the Transmission System in the PJM Region.

  • Prepaid wireless calling service means a telecommunications service that provides the right to utilize mobile wireless service as well as other non-telecommunications services, including the download of digital products delivered electronically, content and ancillary services, which must be paid for in advance that is sold in predetermined units or dollars of which the number declines with use in a known amount.

  • CTS Enabled Interface means an interface between the PJM Control Area and an adjacent Control Area at which the Office of the Interconnection has authorized the use of Coordinated Transaction Scheduling (“CTS”). The CTS Enabled Interfaces between the PJM Control Area and the New York Independent System Operator, Inc. Control Area shall be designated in Schedule A to the Joint Operating Agreement Among and Between New York Independent System Operator Inc. and PJM Interconnection, L.L.C. (PJM Rate Schedule FERC No. 45). The CTS Enabled Interfaces between the PJM Control Area and the Midcontinent Independent System Operator, Inc. shall be designated consistent with Attachment 3, section 2 of the Joint Operating Agreement between Midcontinent Independent System Operator, Inc. and PJM Interconnection, L.L.C. “CTS Interface Bid” shall mean a unified real-time bid to simultaneously purchase and sell energy on either side of a CTS Enabled Interface in accordance with the procedures of Operating Agreement, Schedule 1, section 1.13, and the parallel provisions of Tariff, Attachment K- Appendix.

  • Exchange Agent Agreement has the meaning set forth in Section 2.5(a).

  • Sub-acute facility means a facility that provides intermediate care on short-term or long-term basis.

  • Ignition interlock device means a device that, without tampering or intervention by another person, would prevent the defendant from operating a motor vehicle if the defendant has a blood or breath alcohol concentration of five-hundredths (0.05) or greater; and

  • IOSCO means the International Organisation of Securities Commissions.

  • Seller Closing Certificate has the meaning set forth in Section 7.02(d).

  • Non-Controlling Note Holder Representative shall have the meaning assigned to such term in Section 6(c).