Housing Units. At any time at which the Borrower does not have an Investment Grade Rating from at least one of the three Rating Agencies, permit the total number of Housing Units owned by the Loan Parties, including Housing Units under construction, but excluding model Housing Units and Housing Units Under Contract, at any time to exceed 35% of the total number of Housing Unit Closings during the immediately preceding 12-month period, provided that Housing Unit Closings shall include closings of the sale of housing units by entities that were acquired, and became Loan Parties, during the applicable period.
Housing Units. Permit the total number of Housing Units owned by the Loan Parties, including Housing Units under construction, but excluding model Housing Units and Housing Units Under Contract, at any time to exceed 35% of the total number of Housing Unit Closings during the immediately preceding 12-month period, provided that Housing Unit Closings shall include closings of the sale of housing units by entities that were acquired, and became Loan Parties, during the applicable period.
Housing Units. The planning effort includes the analysis of a future housing development plan of up to 20 units. Initial design shows 10 two-unit townhome sites (footprint is approximately 635 square feet per unit), but final configuration and unit count will be determined cooperatively between the Town and MLF within the noted limits. Currently, there is no identified funding, builder, or operator for the proposed housing project.
Housing Units. (thirty-four (34) two-bedroom Housing Units and twenty (20) three-bedroom Housing Units), subterranean resident and guest parking, a community room, a laundry facility, a leasing office, and a tot lot.
Housing Units. As a part of the development of the Improvements and the implementation of the Manchester Project and pursuant to the federal Section 8 Housing Assistance Payments Program with the United States Department of Housing and Urban Development (“HUD”), Borrower and Authority will be entering into an “Agreement to Enter into Housing Assistance Payments Contract” dated as of April 1, 2010 (together with all extensions, renewals, replacements and substitutions of the same, the “AHAP”) and ultimately the “Housing Assistance Payments Contract” (together with all extensions, renewals, replacements and substitutions of the same, the “HAP Contract”) pursuant to which “project-based” tenant assistance will be provided to the Manchester Project, commonly known as HUD Section 8 rent subsidies (and referred to herein as “Housing Assistance Payments”) on behalf of thirty-nine (39) Very Low Income Households (as defined in the Affordable Housing Agreement) at the Manchester Project, in accordance with the Affordable Housing Agreement, the AHAP, and the HAP Contract. The thirty-nine (39) Housing Units at the Manchester Project to which Housing Assistance Payments will be applied pursuant to the AHAP and HAP Contract are referred to herein as the “HAP Units.”
Housing Units
