Affordable Housing Contribution. Developer hereby agrees to contribute Seven Hundred Fifty Dollars ($750.00) per residential dwelling unit approved by the City during final site plan approval of all Residential Parcels (by way of example, approval of One Hundred Fifty Two (152) residential dwelling units would yield a maximum total sum of One Hundred Fourteen Thousand Dollars ($114,000.00)), payable to the City to facilitate the City’s affordable housing programs and initiatives with the contribution to be used to provide down payment assistance to income eligible families for purchase of residential units throughout the City. Said contribution will be made payable to the City spread proportionately on a per residential dwelling unit basis, the first such contribution to be made at issuance of the first vertical building permit for any residential dwelling unit located within the Residential Parcels, and each time thereafter as a building permit is issued for each successive residential dwelling unit.
Affordable Housing Contribution. 2.2. This contribution will be subject to indexation based on increases in the Index and calculated using the following formula: C = £Y x (B / A) Where: A is the value of the Index for the month in which the amount of the Affordable Housing Contribution is agreed (either between the parties or by the Expert) B is the value of the Index for the month immediately preceding payment of the Affordable Housing Contribution pursuant to the provisions of this Agreement £Y is the Contribution C is the level of the Contribution after the application of the Indexation formula AFFORDABLE HOUSING UNITS
Affordable Housing Contribution. In addition to impact fees and exactions described in subsection (d) above, as part of the extraordinary public benefits package provided under the Development Agreement, NRP shall make a contribution to the County’s affordable housing fund in accordance with payment amounts and terms to be set forth in the Development Agreement a portion of which will be used by the County together with all other non-residential affordable housing impact fees from the Project and funds provided from the County’s Affordable Housing Trust Fund to the extent allocated to the Site in accordance with the Affordable Housing Trust Fund Policies and Procedures Manual for use by Affordable Developers (as defined in the Affordable Housing Plan attached hereto) for the development of low and very-low income units on the Site, and a portion of which will be used by the County to fund the County’s Proximity Housing Assistance Program to provide homebuyer assistance for market-rate and affordable residential ownership units developed on the Site, and/or for the development of low and very-low income units on the Site.
Affordable Housing Contribution. 2.1 The Affordable Housing Contribution comprises financial amounts due in lieu of part- Affordable Housing Dwellings and/or the outcome of other negotiations between the Council and the Landowner in respect of further commuted sum payments
Affordable Housing Contribution. 2.1 If within six months of the Permission the Council notify the Developer in writing that the Affordable Housing Units are no longer required then:
Affordable Housing Contribution. The original proposal included 4 on-site units for employee housing. The current proposal has eliminated those units. Based on the Letter of Intent, it appears that in lieu of the 4 employee units, you are proposing a cash contribution towards affordable housing. Please explain how the $50,000 proposed contribution was reached and how it addresses the City’s Development Incentives and Guidelines for Affordable Housing.
Affordable Housing Contribution. The Applicant will contribute the sum of $2,000,000.00 to the Town under the provisions of G.L. c.44, § 53A, for affordable housing, conservation, or any other identified uses as determined by the Town, payable by the Applicant in two installments, the first contribution to be made in the amount of $1,000,000.00, immediately upon the effective date of the Zoning Amendments and the remaining $1,000,000.00 upon receipt of the first certificate of occupancy for the Project. The final disposition of the funds shall be determined at time of the donation.
Affordable Housing Contribution. Flagstaff Aspen Place acknowledges the City of Flagstaff’s affordable housing set-aside policy but is not seeking any of the affordable housing incentives set forth in the 2011 City of Flagstaff Zoning Code. Flagstaff Aspen Place is aware of the many goals, policies and strategies listed in the Flagstaff Area Regional Land Use and Transportation Plan related to the lack of affordable housing units within Flagstaff. With the development of the Commercial Parcels, Flagstaff Aspen Place intends to provide market rate housing units for rental purposes. Flagstaff Aspen Place, acknowledging that the development of the Commercial Parcels will not directly impact affordable housing shortages within Flagstaff, agrees to contribute $25,000.00 to further the efforts of the City in addressing the lack of affordable housing units within the community. Further, the City and Flagstaff Aspen Place acknowledge the contribution of Parcel 117 to the City with the recordation of the Aspen Place at Sawmill final plat. The City acknowledges that this lot will be an asset to be utilized for affordable housing purposes.
Affordable Housing Contribution. To notify the Borough Council in writing seven Working Days prior to the Commencement of Development Not to Commence Development until the Affordable Housing Contribution has been paid to the Borough Council.
Affordable Housing Contribution. (a) The Developer is to pay to Council the Affordable Housing Contribution specified in Part C of Schedule 2 in the manner and at the time or times specified in that Part.
