Affordable Housing Development Agreement definition

Affordable Housing Development Agreement means a written agreement between an applicant for a development and the [name of local government] containing specific requirements to ensure the continuing affordability of housing included in the development.
Affordable Housing Development Agreement means an agreement for the construction and Disposal of the Affordable Housing Units on terms and to a specification agreed with an Affordable Housing Provider and made between the Developer and the Affordable Housing Provider;
Affordable Housing Development Agreement means one or more agreements executed between and among an applicant for a development permit for affordable housing, the VIHFA and the Zoning Administrator providing for development of affordable housing units in accordance with an Affordable Housing Development Plan.

Examples of Affordable Housing Development Agreement in a sentence

  • In addition, the loan shall be repaid in full upon default of this Contract or the Affordable Housing Development Agreement.

  • In consideration of the receipt of Affordable Housing Trust Funds (hereinafter referred to as “funds”) to be given to the Developer, the Developer agrees to be bound by the agreements contained herein, the Affordable Housing Development Agreement, Mortgage, and Mortgage Note, if applicable.

  • All initial and subsequent sales, rentals and occupancy of Home funded units shall be to low and very low income households in accordance with the HOME Program CFR 24 Part 92:252 rules and the Affordable Housing Development Agreement.

  • A penalty for non-compliance up to 5% of loan/grant amount may be assessed per the Affordable Housing Development Agreement.

  • In consideration of the receipt of Affordable Housing Trust Funds (hereinafter referred to as "funds") to be given to the Developer, the Developer agrees to be bound by the agreements contained herein, the Affordable Housing Development Agreement, Mortgage, and Mortgage Note, if applicable.

  • For all sales of for-sale affordable housing units, the parties to the transaction shall execute and record such documentation as required by the Affordable Housing Development Agreement.

  • PenaltiesIn the event the developer fails to meet its commitments and cannot demonstrate to the City of Pueblo or the Pueblo Consortium’s satisfaction that good faith efforts have been made to fulfill their commitments, it shall be subject to penalties for non-compliance as enumerated in the construction documents or the Affordable Housing Development Agreement between the Consortium member and the developer.

  • If awarded, the terms and conditions in this CAP shall become part of any resulting LETTER OF INTENT and/or any Affordable Housing Development Agreement between the Applicant (“Applicant”) and Franklin County (“County”) as signed by the Franklin County Board of Commissioners.

  • The ReceivingSite must commence construction of the Affordable Housing Units as set forth within its Affordable Housing Development Agreement.

  • For-Sale Affordable Housing: Development Agreement Section 5.2(a) and LUMO 3.10 Required for Developments including new for-sale units Yes No Total for-sale, market-rate units proposed Affordable for-sale units proposed K.

Related to Affordable Housing Development Agreement

  • Affordable housing development means a development included in the Housing Element and Fair Share Plan, and includes, but is not limited to, an inclusionary development, a municipal construction project or a 100 percent affordable development.

  • Affordable housing project means, for purposes of this part, title fourteen of article twenty seven of the environmental conservation law and section twenty-one of the tax law only, a project that is developed for residential use or mixed residential use that must include affordable residential rental units and/or affordable home ownership units.

  • Redevelopment Agreement means an agreement between the

  • Housing development as used in this section, means a development project for five or more residential units, including mixed-use developments. For the purposes of this section, “housing development” also includes a subdivision or common interest development, as defined in Section 4100 of the Civil Code, approved by a city, county, or city and county and consists of residential units or unimproved residential lots and either a project to substantially rehabilitate and convert an existing commercial building to residential use or the substantial rehabilitation of an existing multifamily dwelling, as defined in subdivision (d) of Section 65863.4, where the result of the rehabilitation would be a net increase in available residential units. For the purpose of calculating a density bonus, the residential units shall be on contiguous sites that are the subject of one development application, but do not have to be based upon individual subdivision maps or parcels. The density bonus shall be permitted in geographic areas of the housing development other than the areas where the units for the lower income households are located.

  • Affordable Housing Unit means a rental unit in an affordable housing building that rents for an amount that is affordable to households at or below 60 percent of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis- St. Paul- Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for household size and number of bedrooms.

  • Affordable housing means either of the following:

  • Affordable Housing Units – means the Affordable Housing to be provided as part of the development in accordance with the application and/or any subsequent reserved matters approval.

  • Development Agreements means all development, utility or similar agreements included in the Permitted Encumbrances.

  • Affordable housing program(s means any mechanism in a municipal Fair Share Plan prepared or implemented to address a municipality’s fair share obligation.

  • Affordable development means a housing development all or a portion of which consists of restricted units.

  • Non-profit housing development means development of a building or structure intended for use as residential premises by,

  • Development Agreement has the meaning set forth in the Recitals.

  • Property Management Agreement means any Property Management Agreement between the Company and the Property Manager.

  • Hotel Management Agreement means any hotel management agreement relating to the management and operation of the Real Property together with all supplements, amendments and modifications thereto.

  • Project Management Agreement means the agreement dated the 20th February 1985 made between the Trustee and the Manager providing for the Manager to manage and co‑ordinate the development and construction of the Resort and includes, if that agreement is terminated, any other agreement in like and similar terms made with the prior consent of the Minister;

  • Affordable Housing Cost means an amount satisfied by:

  • Existing development means development, other than that associated with agricultural or forest management activities, that meets one of the following criteria:

  • Asset Management Agreement means, as the context requires, any agreement entered into between a Series and an Asset Manager pursuant to which such Asset Manager is appointed as manager of the relevant Series Assets, as amended from time to time.

  • Sponsor Management Agreement means the management agreement between certain of the management companies associated with the Investors and the Issuer.

  • Michigan state housing development authority means the public body corporate and politic created by Section 21 of the State Housing Development Authority Act of 1966, 1966 PA 346, MCL 125.1421.

  • Residential Development means lands, buildings or structures developed or to be developed for residential use;

  • Construction Management Agreement means the Construction Management Agreement, dated as of the date of the Common Agreement, between Construction Manager and the Project Company.

  • Supportive housing means housing with no limit on length of stay, that is occupied by the target population, and that is linked to an onsite or offsite service that assists the supportive housing resident in retaining the housing, improving his or her health status, and maximizing his or her ability to live and, when possible, work in the community.

  • Cooperation Agreement means that certain Mortgage Loan Cooperation Agreement, dated as of the Closing Date, among Borrower, Lender and Sponsor, as the same may from time to time be amended, restated, replaced, supplemented or otherwise modified in accordance herewith.

  • Development Consent means the consent granted to the Development Application for the Development and includes all modifications made under section 4.55 of the Act.

  • Exclusivity Agreement , in relation to land, means an agreement, by the owner or a lessee of the land, not to permit any person (other than the persons identified in the agreement) to construct a solar pv station on the land;”;