Affordable Units. The Developer agrees to make available, restrict occupancy to, and lease one (1) of the constructed housing units of the Project to: i) very-low income persons and families whose incomes do not exceed the qualifying limits for very-low income persons or families as established and amended from time to time by the United States Department of Housing and Urban Development (HUD) or ii) the limits defined under California Health and Safety Code Section 50105 for very-low income households; and adjusted for household size, and one (1) unit to i) a Low-income household or family whose annual incomes do not exceed 80 percent of the median income for the area, as established and amended from time to time by the United States Department of Housing and Urban Development (HUD) or ii) the limits defined under Section 50079.5for lower income households, all at an Affordable Rent (all of the two (2) units are hereafter the “Affordable Units”). The Developer shall comply with the terms set forth below and in the Regulatory Agreement which is attached hereto as Exhibit D and incorporated herein by reference. Any variation from these requirements must comply with the procedure set forth in Section 313 of this Agreement. The Developer shall annually submit to the City and the Authority a completed income computation and certification form, in a form to be provided by the City and Authority, and such forms may change from time to time. The Developer shall certify that each tenant of the Property meets the income restrictions of this Section 301. The Developer shall obtain an income certification from the tenant of the Property which shall certify that the income of the tenant is truthfully set forth in the income certification form. Unless otherwise specified by the Authority or City, the Developer shall verify the income certification of the tenant in accordance with HUD or HCD regulations which may include one or more of the following methods:
Affordable Units. As to each For Sale Affordable Unit, upon the transfer of the Affordable Unit to a Qualified Purchaser in accordance with all requirements of this Agreement, including the recording of the Affordable Housing Covenant against the For Sale Affordable Unit, Owner and City shall cooperate to execute and record or cause to be recorded against the For Sale Affordable Unit for the benefit of the Property and the Project an executed original of the Unit Release. Owner shall provide upon City's request evidence that Affordable Housing Covenants have been recorded against all of the For Sale Affordable Units. City shall cooperate with Owner to timely execute and deliver to Owner each Unit Release for prompt recording when due.
Affordable Units. Notwithstanding the foregoing, preferences (B), (C), (D) and (E) will be subordinate to the affordability requirements contained in paragraph (iii) above. In addition, said preferences will be subordinate to the requirement that, on average, twenty percent (20%) of the housing units at the Property will be affordable units.”
Affordable Units. The City Affordable Units and the Qualifying Units (as defined below) are together known as the Affordable Units.
Affordable Units. Owner hereby covenants and agrees that at least thirty percent (30%) of the units in the Residential Development (at least 30 units) shall be rented exclusively to Low Income Households, at an Affordable Rent.
Affordable Units. At least dwelling units, or at least fifteen percent (15%) of the total dwelling units to be developed on the Property, whichever is greater, shall be constructed on the Property and shall be Affordable Units that shall be sold at an Affordable Ownership Price to Eligible Households or rented at Affordable Rent to Eligible Households. The Affordable Units shall be used only as residences for the Term of this Agreement.
Affordable Units. Phase B Developer agrees to make available, restrict occupancy to, and rent the seventy-four (74) Housing Units in Phase B at an Affordable Rent in compliance with Section 400, et seq., of the Original Agreement and Section 2 of the Phase B Regulatory Agreement, to qualified Low and Very Low Income Households as follows: No. of Bedrooms AMI 30% AMI 50% AMI 55% Property Manager 2-bedroom units 16 14 19 1 3-bedroom units 10 9 5 0
Affordable Units. The Developer agrees to make available, restrict occupancy to, and lease three (3) of the housing units within the Property to households with incomes that do not exceed the limits defined under California Health and Safety Code Section 50106 for extremely-low income households, adjusted for family size (“Extremely Low Income Households”), twelve (12) of the housing units within the Property to households with incomes that do not exceed the limits defined under California Health and Safety Code Section 50105 for very-low income households, adjusted for family size (“Very Low Income Households"), twelve (12) units to households with incomes that do not exceed the limits defined under California Health and Safety Code Section 50079.5 for low income households, as adjusted for household size, (“Low Income Households”), and seven (7) units to households with incomes that do not exceed the limits defined under California Health and Safety Code Section 50093 for moderate income households, as adjusted for household size (“Moderate Income Household”), all at an Affordable Rent (the “Affordable Units”). If after the tenant’s initial occupancy of an Affordable Unit designated for Extremely-Low, Very-Low, Low Income, and Moderate Income Households, as defined under the California Health and Safety Code, the tenant’s income increases to greater than what is defined, adjusted for family size, the Monthly Rent charged by Developer may be increased to the maximum rent set forth in Section 302 hereof. The Developer shall comply with the terms set forth below and in the Regulatory Agreement which is attached hereto as Exhibit D and incorporated herein by reference. The Developer shall annually submit to the Agency a completed income computation and certification form, in a form to be provided by the Agency, and such forms may change from time to time. The Developer shall certify that each tenant of the Property meets the income restrictions of this Section 301. The Developer shall obtain an income certification from the tenant of the Property which shall certify that the income of the tenant is truthfully set forth in the income certification form. Unless otherwise specified by the Agency, the Developer shall verify the income certification of the tenant in one or more of the following methods:
Affordable Units. The Developer agrees to make available, restrict occupancy to, and lease at an Affordable Rent (the “Affordable Units”): One (1) one-bedroom unit within the Property to households with incomes that do not exceed the stricter of: (i) the qualifying limits for Extremely -Low Income Households as established and amended from time to time by the United States Department of Housing and Urban Development (HUD) or (ii) the limits defined under California Health and Safety Code Section 50106 for Extremely Low-Income Households, as adjusted for households size; and One (1) three-bedroom unit within the Property to households with income that do not exceed the stricter of: (i) the qualifying limits for Lower Income Households as established and amended from time to time by the United States Department of Housing and Urban Development (HUD) or (ii) the limits defined under California Health and Safety Code Section 50079.5 for Lower Income Households, as adjusted for household size. The Developer shall annually submit to the City and the Authority a completed income computation and certification form, in a form to be provided by the City and Authority, and such forms may change from time to time. The Developer shall certify that each tenant of the Property meets the income restrictions of Section 301 of the Affordable Housing Agreement. The Developer shall obtain an income certification from the tenant of the Property which shall certify that the income of the tenant is truthfully set forth in the income certification form. Unless otherwise specified by the Authority or City, the Developer shall verify the income certification of the tenant in accordance with HUD or HCD regulations which may include one or more of the following methods:
Affordable Units. The Developer agrees to make available, restrict occupancy to, and lease at an Affordable Rent (the “Affordable Units”): Three (3) two-bedroom units within the Property to households with incomes that do not exceed the stricter of: (i) the qualifying limits for Very-Low Income Households as established and amended from time to time by the United States Department of Housing and Urban Development (HUD) or (ii) the limits defined under California Health and Safety Code Section 50105 for Very-Low Income Households, adjusted for household size; and Two (2) two-bedroom units and five (5) one-bedroom units within the Property to households with income that do not exceed the stricter of: (i) the qualifying limits for Low Income Households as established and amended from time to time by the United States Department of Housing and Urban Development (HUD) or (ii) the limits defined under California Health and Safety Code Section 50079.5 for Low- Income Households, as adjusted for households size. The HOME affordable units will float within the Property. Any variation from these requirements must comply with the procedure set forth in Section 10.1 of this Agreement. The Developer shall annually submit to the City and the Authority a completed income computation and certification form, in a form to be provided by the City and Authority, and such forms may change from time to time. The Developer shall certify that each tenant of the Property meets the income restrictions of Section 301 of the Affordable Housing Agreement. The Developer shall obtain an income certification from the tenant of the Property which shall certify that the income of the tenant is truthfully set forth in the income certification form. Unless otherwise specified by the Authority or City, the Developer shall verify the income certification of the tenant in accordance with HUD or HCD regulations which may include one or more of the following methods:
