RENTAL CALCULATION EXAMPLE Clause Samples

RENTAL CALCULATION EXAMPLE. For purposes of determining Affordable Rent, Owner shall use an average of estimated housing costs for the next twelve months, which shall include all of the following: • Use and occupancy of a housing unit and land and facilities associated therewith. • Any separately charged fees or service charges assessed by the lessor which are required of all tenants (including mandatory renters insurance, if applicable), other than security deposits. • A reasonable allowance for utilities not included in the above costs, including garbage collection, sewer, water, electricity, gas, and other heating, cooking, and refrigeration fuels. Utilities do not include telephone and cable service. Such an allowance shall take into consideration the cost of an adequate level of service. • If applicable, possessory interest taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than the lessor. In explanation of the foregoing, Tables 1 shows the maximum monthly gross rental housing payment pursuant to Health and Safety Code Section 50053(b)(2) and (b)(4) for Very Low Income households. The gross monthly cost for Very Low Income is the product of 30 percent times 50 percent of the Orange County Area Median Income adjusted for household size appropriate to the unit, (as shown in Table 1).1 1 “Adjusted for household size appropriate to the unit” shall mean for a household of one person in the case of a studio unit, two persons in the case of a one-bedroom unit, and three persons in the case of a two-bedroom unit. Renting a studio unit, payment may not exceed $ Renting a 1 bedroom unit, payment may not exceed $ Renting a 2 bedroom unit, payment may not exceed $ Renting a 3 bedroom unit, payment may not exceed $ Should utilities or other costs listed above be paid separately by the tenant, Owner shall deduct from the above maximum monthly payment to arrive at the net rental payment for the unit. Utility cost schedules may be confirmed by the City of Irvine, which currently utilizes the most recent Utility Allowance Schedule issued by the Orange County Housing Authority. The above examples are provided to illustrate how rental housing costs are calculated. Nothing in this Exhibit shall supersede the provisions of this Agreement or the Regulatory Agreement and the provisions of those agreements shall control and be binding on all parties. Extremely Low (30%) $28,500 $32,550 $36,600 $40,650 $43,950 $47,200 $50,...
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RENTAL CALCULATION EXAMPLE. For purposes of determining Affordable Rent, Owner shall use an average of estimated housing costs for the next twelve months, which shall include all of the following: • Use and occupancy of a housing unit and land and facilities associated therewith. • Any separately charged fees or service charges assessed by the lessor which are required of all tenants (including mandatory renters insurance, if applicable), other than security deposits. • A reasonable allowance for utilities not included in the above costs, including garbage collection, sewer, water, electricity, gas, and other heating, cooking, and refrigeration fuels. Utilities do not include telephone and cable service. Such an allowance shall take into consideration the cost of an adequate level of service. • If applicable, possessory interest taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than the lessor. In explanation of the foregoing, Table 1 shows the maximum monthly gross rental housing payment pursuant to Health and Safety Code Section 50053(b)(2) and (b)(4) for Very Low Income households. The gross monthly cost for Very Low Income is the product of 30 percent times 50 percent of the Orange County Area Median Income adjusted for household size appropriate to the unit, (as shown in Table 1).1 1 “Adjusted for household size appropriate to the unit” shall mean for a household of one person in the case of a studio unit, two persons in the case of a one-bedroom unit, and three persons in the case of a two-bedroom unit. Renting a studio unit, payment may not exceed $
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Related to RENTAL CALCULATION EXAMPLE

  • Termination for Convenience TIPS may, by written notice to Vendor, terminate this Agreement for convenience, in whole or in part, at any time by giving thirty (30) days’ written notice to Vendor of such termination, and specifying the effective date thereof.

  • Definition The following definition applies in addition to the definitions in Chapter 287, Florida Statutes (F.S.), and Rule Chapter 60A-1, Florida Administrative Code (F.A.C.):

  • Definitions For purposes of this Agreement:

  • SAVINGS CLAUSE If any provision of this Agreement, or the application of such provision to any person or circumstance, shall be held invalid, the remainder of this Agreement, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.

  • HOURS OF WORK i) Where employees are now working a longer daily tour, the provisions set out in this Article governing the regular hours of work on a daily tour shall be adjusted accordingly. ii) The normal daily extended tour shall be 11.25 consecutive hours in any 24-hour period, exclusive of a total of forty-five (45) minutes of unpaid meal time. For hybrid schedules, there will be scheduled normal daily tours of seven and one-half (7½) hours and 11.25 consecutive hours per day. iii) Employees working an extended tour shall be entitled, subject to the exigencies of resident care, to paid relief periods during the tour of a total of forty-five (45) minutes. For hybrid schedules, there will also be shifts that provide for relief periods in accordance with Article 15.02. iv) Scheduling issues will be resolved at the local level. v) Where the union and the employer have agreed to or agree to an extended daily tour or hybrid schedule that differs from the normal daily extended tour, the proportion of unpaid time to hours of work shall maintain the same ratio as set out in paragraph ii) and iii) of this Article.