Maximum Rental Amount During Affordability Period Sample Clauses

Maximum Rental Amount During Affordability Period. The rents for a CDBG-assisted rental unit including rent and utilities may not exceed the Fair Market Rent (FMR) for existing housing for comparable units in the area as established by HUD under 24 CFR 888.111. If the unit receives Federal or State project-based rental subsidy and the LMI family pays as a contribution toward rent not more than 30% of the tenant’s adjusted household income, then the maximum rent (i.e. tenant contribution plus project-based rental subsidy) is the rent allowable under the Federal or State project-based rental subsidy program. LMI tenants have household incomes at or below 80% of the area median income (AMI) for Ward County. Maximum rental amounts are adjusted annually by HUD based on the income limits prevailing for the location of the rental housing, which are published by HUD for the Section 8 rental assistance program on HUD’s website. Developer will adjust the maximum rental amount within 30 days of publication of new income limits and apply the maximum amount to all new leases executed after that time. Regardless of changes in FMR’s and in AMI during the Affordability Period, the maximum rents for qualified tenants once in occupancy with a lease are not required to be lower than the rent limits then in effect at the time of such tenant’s initial lease. During the Affordability Period and upon vacancy of any unit, when such unit is initially leased to a new qualified tenant, the maximum rent for such unit will not be required to be lower than the rent limits in effect at the time of such new qualified tenant’s lease during the term of such lease.
Sample 1
AutoNDA by SimpleDocs
Maximum Rental Amount During Affordability Period. The rents for an NDR- assisted rental unit including rent and utilities may not exceed 30% of the tenant’s household income to qualify as affordable under HUD rules. LMI tenants have household incomes at or below 80% of the area median income (AMI) for Xxxx County. Maximum rental amounts are adjusted annually by HUD based on the income limits prevailing for the location of the rental housing, which are published by HUD for the Section 8 rental assistance program on HUD’s website. Developer will adjust the maximum rental amount within 30 days of publication of new income limits and apply the maximum amount to all new leases executed after that time. To determine the affordable rental amount, Developer will follow these procedures:
Sample 1

Related to Maximum Rental Amount During Affordability Period

  • C4 Contract Price During Extension of the Initial Contract Period C4.1 Subject to the Pricing Schedule and the provision in clause F6 (Variation), the Contract Price shall apply for the Initial Contract Period and following an extension pursuant to clause F8 (Extension of Initial Contract Period), to the date of expiry of the extended period, or such earlier date of termination or partial termination of the agreement in accordance with the Law or the provisions of the Contract. C5 Euro

  • RENTAL AMOUNT The Owner hereby grants the Agent power to create rental agreements related to the Property for: (check one) ☐ - Market rent. ☐ - A rate no lower than $______________ per ___________________. ☐ - Other. ___________________________________________________________________.

  • C4 Price adjustment on extension of the Initial Contract Period C4.1 The Contract Price shall apply for the Initial Contract Period. In the event that the Client agrees to extend the Initial Contract Period pursuant to clause F8 (Extension of Initial Contract Period) the Client shall, in the 6 month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than 30 Working Days) to agree a variation in the Contract Price.

  • OPERATION OF PROPERTY DURING AGREEMENT PERIOD The Seller will continue to operate the Property and any business conducted on the Property in the manner operated prior to the Agreement and will take no action that would adversely impact the Property, tenants, lender, or business, if any. Any changes, such as renting vacant space, that materially affects the Property or the Buyer's intended use will be permitted only with the Buyer's consent.

  • Work During Vacation Period No employee shall be required to work during the employee's vacation once the vacation request has been approved.

  • Loan Amount 5. ACCOUNT NAME(S) .............................................................................................................................................................................. BANK NAME / BRANCH ...................................................................................................................................................................

  • RENTAL DURATION 3.1 Rental days are calculated on a calendar day basis. When calculating the number of days the Vehicle is rented, the day of pick-up is counted as day one of the rental, regardless of pick-up time. The day of the Vehicle’s return is counted as the final day of the rental regardless of drop-off time.

  • Refund During Cooling-Off Period The PEI will provide the Student with a cooling-off period of seven (7) working days after the date that the Contract has been signed by both parties. The Student will be refunded the highest percentage (stated in Schedule D) of the fees already paid if the Student submits a written notice of withdrawal to the PEI within the cooling-off period, regardless of whether the Student has started the course or not.

  • Addressing Objections Raised During Public Comment Period The Parties agree that the procedure contemplated for public review of this Stipulated Order and the Regional Water Board’s or its delegate’s adoption of this Stipulated Order is lawful and adequate. The Parties understand that the Regional Water Board or its delegate has the authority to require a public hearing on this Stipulated Order. If procedural objections are raised or the Regional Water Board requires a public hearing prior to the Stipulated Order becoming effective, the Parties agree to meet and confer concerning any such objections, and may agree to revise or adjust the procedure and/or this Stipulated Order as necessary or advisable under the circumstances.

  • Drawings Submitted During the Contract Term Where required to develop, maintain and deliver diagrams or other technical schematics regarding the scope of work, Contractor shall do so on an ongoing basis at no additional charge, and must, as a condition of payment, update drawings and plans during the Contract term to reflect additions, alterations, and deletions. Such drawings and diagrams shall be delivered to the Authorized User’s representative.

Time is Money Join Law Insider Premium to draft better contracts faster.