Affordable Housing Sample Clauses

Affordable Housing a. The total number of affordable units among all the projects within the UMW MFOD will be up to 15% of the total units, provided that (i) any one project may be permitted at lesser or greater percentage (ii) further that all affordable units shall be eligible to be considered affordable by the Department of Housing and Community Development (DHCD) and be counted toward the Commonwealth of Massachusetts Subsidized Housing Inventory; and (iii) the units are subject to perpetual restriction using the rental price and to be mandated through a fair and equitable process to income qualified buyers’ or renters’ households making no more than 80% of the Area Median Income. The Applicant shall provide six (6) affordable units (approximately 2% of the total units) compliant with (i)-(iii) above. The Applicant shall prepare and submit to the Town a completed Local Action Unit application package within thirty (30) days of the receipt of all local permits and approvals (exclusive of building permits) for the Town’s submittal to DHCD. At the Town’s election, in the alternative, the Applicant will contribute the value of these six (6) units as a payment as specified in paragraph 4(c) below, for a total payment in lieu of twelve
Affordable Housing. The Town and County will seek ways to implement its land use and development regulations in a manner that reflects the community values of diverse housing choice and affordability.
Affordable Housing. Method of calculation Not consulted for this application Need/justification Current provision/ existing facilities (excl affordable housing) Details of anticipated facility or infrastructure Amount On site Amount Off site Officer Xxxxx Xxxxxxx, Housing Officer (Strategy and Enabling)
Affordable Housing. If this box is checked, Seller represents, to the best of Seller’s actual knowledge, the Property IS part 39 of an affordable housing program. If this box is NOT checked, Seller represents that Property is NOT part of an affordable housing 40 program.
Affordable Housing. Owner shall set aside and reserve ten percent (10%) of the total multifamily residential units located in the Project as affordable housing units consistent with the terms set forth herein, for Income Eligible Residents earning in the aggregate no more than sixty percent (60%) of AMI. The published income limits will be adjusted by household size. The income limits will be adjusted annually according to the HUD published limits. To that end, no fewer than the number of multifamily units in the Project set forth in the table below shall, pursuant to the terms and conditions of a Land Use Restriction Agreement (i.e., the “XXXX”) in substantially the form attached hereto as “Attachment 1” to this Schedule P and incorporated herein by reference. Capitalized terms used but not defined in this Schedule but which are defined in the XXXX shall have the same meaning herein as therein. Each Phase of the Project shall have no few than the number of Affordable Housing Units allocated to it in in the table below. The table is as follows: PHASES AFFORDABLE HOUSING UNITS ALLOCATED TO PHASE PHASE 1 446 PHASE 2 300 PHASE 3 240 986 PRO FORMA TOTAL MULTIFAMILY UNITS IN THE PROJECT 10% 99 TOTAL AFFORDABLE UNITS Each such Affordable Unit in a Phase will be made available for a period of time not less than twenty (20) years following the date on which the last multifamily building of a Phase receives a permanent certificate of occupancy (each, an “Affordable Housing Compliance Period”), to Income Eligible Residents as defined in the XXXX. Such requirements shall be referred to with respect to each Phase as the “Affordable Housing Requirements.” The foregoing Affordable Housing Requirements will be set forth in the XXXX in such form as is consistent with the then applicable practices of ACC for similar affordable housing transactions, provided that such form does not alter the Affordable Housing Requirements set forth in this Agreement, permits transferability and release consistent with Section 12.4 hereof, and does not increase the obligations of Owner, its successors and assigns. The current form of XXXX is attached “Attachment 1” to this Schedule P. Upon approval of a subsequent form of XXXX by ACC and review and approval by the Owner consistent with the foregoing, the subsequent form of the XXXX may be affixed hereto as “Attachment 1” to this Schedule P without further amendment to this Agreement. The XXXX shall be recorded in the Athens-Xxxxxx County land records in custom...
Affordable Housing. The County has determined that the Project proposed by Developer as amended by the Second Amendment is subject to a requirement to provide 20.5 Affordable Unit Equivalents under the policies for affordable housing in the Snyderville Basin Development Code as of the date of this Agreement (the “Affordable Housing Policies”), which Affordable Housing Policies shall be deemed vested as of the date of the Second Amendment. In addition to reserving the right to comply with the Affordable Housing Policies in any other manner and with any other configuration of units allowed under the Affordable Housing Policies, Developer shall satisfy the Affordable Housing Policies byreserves the right to constructing 20 one-bedroom rental units 15.38 rental AUE’s on the Project Site within a second story to Building “B” in the a one bedroom configuration shown on Exhibit “B,” to the Second Amendment and renting such units to individuals and households meeting the 50% of area median income limitation provided in the Affordable Housing Policies. The construction and operation of such rental units will provide 16 Affordable Unit Equivalents (“AUEs”), which is in excess of the project’s requirement to construct 15.38 AUEs (calculated based on a 20.5 AUE requirement after being credited with a 25% reduction in AUEs for complying with the 50% of area median income limitation provided in the Affordable Housing Policies). The design of the AUEs shall be as approved by the County and included in Exhibit “BC” to the Second Amendment. Developer may retain ownership of the units constructed on the Project Site. The approval of the construction of the Affordable Unit Equivalents in the quantity and configuration set forth in Exhibit “BC” shall be subject to Developer’s compliance with the operating and deed restriction provisions provided in the Affordable Housing Policies, including in Code Section 10-5-3, except to the extent a specific exception approval is reflected in the following paragraphs. It is the public policy of Summit County to house employees as close to the workplace as possible, thereby reducing traffic congestion. In order to assure compliance with this policy, Developer shall enter into an agreement (the “Affordable Housing Agreement”) with Mountainlands Community Housing Trust (MCHT) or another qualified entity approved by the County, setting forth the following priorities:
Affordable Housing. Developer agrees to comply with the Affordability Plan set forth in Exhibit “E”, attached hereto and incorporated by this reference. The Affordability Plan can be modified only upon the express written agreement of the City’s Housing Director. The purpose of these requirements is to ensure that the affordable housing set-aside contribution of ten percent (10%) of the overall unit count (34 out of 333 units) for income-restricted rental units for households earning, on average, up to eighty per cent (80%) of the Area Media Income (“AMI”), but in no event exceed one hundred percent (100%) AMI, as defined by the United States Department of Housing and Urban Development (“HUD”), or its successors, is met and maintained for the life of this Agreement. Rental rates for the affordable units will be set at no more than thirty-three percent (33%) of the applicant’s household income. These affordability criteria will be developed in more detail in the Affordability Plan and can be modified only with the express written consent of the Housing Director. Developer will also contribute five hundred thousand dollars ($500,000) to the City of Flagstaff’s Housing Section for the purpose of affordable housing, to be made prior to the issuance of any building permit, with the exception of a demolition permit on the residential portion of the Project.
Affordable Housing. 1.1 The Owner covenants with the Council that not less than 8 Dwellings to be constructed on the Site pursuant to the Planning Permission shall be Affordable Housing Units
Affordable Housing. The Developer shall comply with the affordable housing requirements as set forth in the Development Agreement, which is focused on providing housing for extremely low and very low income students. Baseline Project Features: Implementation The Nishi Gateway project is required to develop in a manner consistent with these Baseline Features. As provided for in Measure J/R, the Baseline Features may not be changed without approval by the voters of the City. The Planning Commission will review compliance with these Baseline Project Features as it considers application for Final Planned Development, Tentative Subdivision Map, approval of Design Guidelines, implementation of sustainability plans, and through the annual review of implementation of the Project’s Development Agreement. There are other additional requirements for the Nishi Gateway project, including but not limited to, the mitigation measures set forth in the Final Environmental Impact Report, and the Development Agreement that, while important to the Project, are not Baseline Project Features and may be modified with the approval of the City, after the appropriate public process. In addition, minor changes to the Project can be anticipated during the course of this multiple year build out. Such changes, often the result of detailed engineering, sustainability obligations, or changing conditions, may be changed without voter approval, if they are substantially consistent with the Baseline Features and they do not materially alter the character of the project, as established in Resolution 06-40 Establishing Criteria to Determine What Constitutes a Significant Project Modification or Change Requiring a Subsequent Measure J Vote. EXHIBIT C PROJECT APPROVALS The Nishi Project required the following discretionary actions by the Xxxxx City Council (the “Project Approvals”)  Certification of the EIR and adoption of the Mitigation Monitoring and Reporting Program;  Approval of the General Plan Amendment #08-14 and Establishment of the Baseline Project Features, as described on Exhibit B  Rezoning and Planned Development #06-14  Development Agreement Applicable development standards include, but are not limited to, the following as of the Effective Date:  2007 General Plan Update, as amended (including but not limited to amendments adopted as Project Approvals)  Chapter 40 of the City of Xxxxx Municipal Code (Zoning) as amended (including but not limited to amendments adopted as Project Approvals)  Cha...