Common use of Shared Net Appreciation Clause in Contracts

Shared Net Appreciation. The amount of Net Appreciation owed to the City by the Eligible Buyer of a Workforce Housing Unit, which shall be equal to the proportional share represented by the City’s investment in the original purchase of the unit as evidenced by the Equity Sharing Agreement. For example, if the amount evidenced by the Equity Sharing Agreement equals twenty-five percent (25%) of the Initial Sales Price of the unit, the amount of the Shared Net Appreciation owed to the City at resale will be twenty-five percent (25%) of the Net Appreciation of the unit. The Shared Net Appreciation is paid, along with the amount equal to the Workforce Housing Discount as evidenced by the Workforce Housing Promissory Note, on the sale or transfer of the unit.

Shared Net Appreciation. The amount of Net Appreciation owed to the City by the Eligible Buyer of a Workforce Housing Unit, which shall be equal to the proportional share represented by the City’s investment in the original purchase of the unit as evidenced by the this Equity Sharing Agreement. For example, if the amount evidenced by the Equity Sharing Agreement equals twenty-five percent (25%) of the Initial Sales Price of the unit, the amount of the Shared Net Appreciation owed to the City at resale will be twenty-five percent (25%) of the Net Appreciation of the unit. The Shared Net Appreciation is paid, along with the amount equal to the Workforce Housing Discount as evidenced by the Workforce Housing Promissory Note, on the sale or transfer of the unit.