Common use of PRESERVATION OR TRANSFORMATION OF PUBLIC HOUSING Clause in Contracts

PRESERVATION OR TRANSFORMATION OF PUBLIC HOUSING. a. The Landlord's operation of all ACC-Assisted Units, including the Unit, is supported in part by operating subsidies which the CHA received from HUD and is contractually obligated to pay to Landlord. Rent paid by Tenant under the Lease Agreement may be less than the cost of operation of the Unit. If, as a result of a reduction in Congressional appropriations or any other change in applicable law, the CHA is unable to meet its contractual obligation to pay Landlord operating subsidies with respect to all ACC-Assisted Units, then any actions of the Landlord will be subject to Section 35 of the United States Housing Act of 1937 (the "Act") and all implementing regulations, and to any agreements pursuant thereto affecting the Landlord's right to deviate, under certain conditions, from the otherwise applicable restrictions under the Act regarding rents, income eligibility, and other areas of public housing management.

PRESERVATION OR TRANSFORMATION OF PUBLIC HOUSING. a. The Landlord's operation of all ACC-Assisted Units, including the Unit, is supported in part by operating subsidies which the CHA received from HUD and is contractually obligated to pay to Landlord. Rent paid by Tenant under the Lease Agreement may be less than the cost of operation of the Unit. If, as a result of a reduction in Congressional appropriations or any other change in applicable law, the CHA is unable to meet its contractual obligation to pay Landlord operating subsidies with respect to all ACC-Assisted Units, then any actions of the Landlord will be subject to Section 35 of the United States Housing Act of 1937 1937, as amended (the "Act") and all implementing regulations, and to any agreements pursuant thereto affecting the Landlord's right to deviate, under certain conditions, from the otherwise applicable restrictions under the Act regarding rents, income eligibility, and other areas of public housing management.

PRESERVATION OR TRANSFORMATION OF PUBLIC HOUSING. a. The Landlord's operation of all ACC-Assisted Units, including the UnitUnit if applicable, is supported in part by operating subsidies which the CHA received from HUD and is contractually obligated to pay to Landlord. Rent paid by Tenant under the Lease Agreement may be less than the cost of operation of the Unit. If, as a result of a reduction in Congressional appropriations or any other change in applicable law, the CHA is unable to meet its contractual obligation to pay Landlord operating subsidies with respect to all ACC-Assisted Units, then any actions of the Landlord will be subject to Section 35 of the United States Housing Act of 1937 (the "Act") and all implementing regulations, and to any agreements pursuant thereto affecting the Landlord's right to deviate, under certain conditions, from the otherwise applicable restrictions under the Act regarding rents, income eligibility, and other areas of public housing management.