Workforce Housing Unit means a residential unit that is purchased or rented by a qualified household and meets the requirements as defined by this Agreement.
Workforce Housing Unit means a dwelling unit that is offered for rent at a monthly rate that does not exceed an amount equal to thirty percent of eighty percent of the monthly median income level for a family of four in the Metropolitan Statistical Area to which Durham is assigned by the United States Department of Housing and Urban Development at the time of the calculation. Company may adjust the rental rate for an Affordable Housing Unit annually when United States Department of Housing and Urban Development publishes income information.
Workforce Housing Unit means housing reserved for occupancy by eligible households and affordable to households whose annual income is at or above eighty percent (80%) of area median income for Deschutes County and does not exceed 150 percent of area median income, adjusted for household size, and no more than 30 percent of the monthly household income is paid for monthly housing expenses. (Housing expenses for ownership housing include mortgage and mortgage insurance, property taxes, property insurance, and homeowner dues. Housing expenses for rental housing include rent and appropriate utility allowance.)
Examples of Workforce Housing Unit in a sentence
A deed of trust securing the repayment of the loan made by the City to an Eligible Buyer representing the Workforce Housing Discount, plus the Shared Net Appreciation of the Workforce Housing Unit.
The consideration paid for the Workforce Housing Unit by the Eligible Buyer.
The consideration paid for the Workforce Housing Unit to the Developer.
The sale of the Workforce Housing Unit shall be evidenced by a purchase agreement between Eligible Buyer and Developer in a form reasonably acceptable to the City.
The difference in sales price between the Fair Market Value of a Workforce Housing Unit and the reduced sale price necessary to make such unit affordable to a household at a targeted income level.
More Definitions of Workforce Housing Unit
Workforce Housing Unit means a Residential Unit, the occupancy of which is restricted to a Qualified Workforce Household.
Workforce Housing Unit means a rental dwelling unit occupied by an eligible
Workforce Housing Unit shall have the same meaning ascribed to it in Section 118-1050 of the Zoning Regulations.
Workforce Housing Unit means a rental apartment that shall be leased to a Qualified Tenant.
Workforce Housing Unit means a residential dwelling unit that is intended for and occupied by individuals and families with annual incomes at or below 60% of the median income for the Madison/Dane County region, as defined annually by the US Department of Housing and Urban Development (HUD), and for which rents are held at or below 60% of the fair market value rent for the Madison/Dane County region, as defined annually by HUD.
Workforce Housing Unit. ’ means a 1- to 4-unit
Workforce Housing Unit means a dwelling unit that is made available to own or rent to a family with an income of 120 percent or less of the area median income as determined by the Oregon Housing Stability Council based on information from the United States Department of Housing and Urban Development and whose affordability is enforceable, including as described in ORS 456.270 to 456.295, for a duration of no less than 30 years.