Credit Units definition

Credit Units means units in a Project that are eligible for Credit.

Credit Units means all of the Federal Low-Income Housing Tax Credit units in a Qualified Maine Project or all of the units in a Qualified Rural Development Preservation Project that are assisted or financed by Rural Development.

Credit Units means the units determining duration of an employee’s benefits which are credited to him generally by reason of his weeks of active service and cancelled at specified rates for the payment of certain benefits;

Examples of Credit Units in a sentence

• If the Average AMI of the Qualifying Housing Credit Units exceeds 60 percent, this Application will not be eligible for funding.

• For instance, 50% of Income Targeted Units to Total Tax Credit Units at 50% of Area Median Income cannot be used twice for 100% at 50% and receive 50 points, nor can 50% of Income Targeted Units to Total Tax Credit Units at 50% of Area Median Income for 25 points and 40% of Income Targeted Units to Total Units at 50% of Area Median Income be used for an additional 20 points.

• The size factor calculation shall be limited to no more than 150 Tax Credit Units.

• A project which applies for a Credit reservation pursuant to Section 10325 in which 100 percent (100%) of the residential units are Tax Credit Units and for which the project architect has certified concurrently with the submission of an application to the Committee that (1) one or more of the buildings in the project would have at least six stories; and (2) the construction period for the project is reasonably expected to be in excess of 18 months.

• The numerator of projects of 50 or more newly constructed or adaptive reuse Tax Credit Units shall be multiplied by a size factor equal to seventy five percent plus the total number of newly constructed or adaptively reused Tax Credit Units divided by 200 (75% + (total new construction/adaptive reuse units/200)).

• Notwithstanding the foregoing, the term “Transfer Event” shall be applicable only to projects in which at least 50% of the units are Tax Credit Units.

• The project proposes to make Tax Credit Units available for eventual tenant ownership and provides the information described in Section 10325(c)(6) of these regulations.

• The Corporation will calculate the Average AMI of the Qualifying Housing Credit Units using the methodology below.

• If the Total Set-Aside Breakdown Chart reflects that the Average AMI of the Qualifying Housing Credit Units exceeds 60 percent, and/or if the number of Set-Aside Units set aside at 30 percent AMI, or less, is not equal to or greater than the required ELI commitment, and/or the overall Set-Aside Commitment requirement is not met, this Application will not be eligible for funding.

• If the Average Income Test is selected, set aside a total of at least 80 percent of the Development’s total units at 80 percent AMI or less, but the Average AMI of the Qualifying Housing Credit Units* cannot exceed 60 percent.

More Definitions of Credit Units

Credit Units means actual hours of active participation in a course, class or seminar pertaining to the fire protection industry for the purpose of increasing one’s aptitude, knowledge or skill in a particular area or task. One hour of personal course contact acceptable to the Commissioner will equal one credit unit.

Credit Units means the units determining duration of an employee's benefits which are credited to him/her generally by reason of his weeks of active service and cancelled at specified rates for the payment of certain benefits.