Examples of the Affordable Price in a sentence
If the Owner sells to an Eligible Purchaser, the maximum sales price (the "Maximum Allowable Sales Price") that the Owner shall receive from the Eligible Purchaser for purchase of the Home shall be the greater of the Indexed Value or the Affordable Price, but in no event greater than the Unrestricted Fair Market Value.
The amount of the Affordable Housing Fund contribution per square foot for each Fee Tier is determined by calculating the difference between the Market Price and the Affordable Price for each Fee Tier.
The health-based National Ambient Air Quality Standards (NAAQS) for “criteria” air pollutants, and the obligation to attain and maintain those standards, are the foundation of the Clean Air Act.
This Agreement shall not terminate and remains in effect in perpetuity except termination may be allowed for the following situations: (1) City exercises its option to purchase in compliance with Section 11; or (2) Owner transfers to an Eligible Household at the Affordable Price in compliance with Section 12.
The result of the audit will be binding, and in the event that the audit reveals a failure to comply with the Price Commitment, the Commercialisation Partner will implement any adjustment to the Affordable Price deemed required by MPP or UW as a result of the audit.
Appreciation Amount = Affordable Price x HUD Increase = [$450,000 x .07 = $31,500] Second, determine the Eligible Buyer Purchase Price by adding the Affordable Price plus the Appreciation Amount and any Eligible Capital Improvements.
The Purchase Price to be paid by an Eligible Buyer for the Property shall be the total sum of (a) the Affordable Price paid by the Owner for the Property, plus (b) the HUD Increase as defined in Section 1.27, plus (c) the depreciated value of any Eligible Capital Improvements approved by the City as described in Section 1.15.
If Developer rents a Restricted Unit without Agency authorization or sells a Restricted Unit at a price that exceeds the Affordable Price, Developer shall repay to Agency, as “Recapture”, all of the Agency Funding allocable to the Restricted Unit, plus interest from the date of this Regulatory Agreement until paid, at then market rate for construction loans for projects similar to the Project, as reasonably determined by the Agency.
Within one hundred and fifty (150) days after the City has calculated the Affordable Price, Owner, City, and real estate brokers consulted by Owner, shall attempt to identify a Qualifying Purchaser at the Affordable Price and enter into a binding contract for the Sale of the Property to the Qualifying Purchaser, which contract shall provide that the closing of the Sale shall occur no later than forty-five (45) days after execution of such contract.
The City Resale Costs shall not exceed six percent (6%) of the Affordable Price.